Sallie Mae and peerTransfer Partner to Make International Tuition Payments Easier For Schools and Students
Sallie Mae, the nation’s No. 1 financial services company specializing in education, today announced the availability of a new solution for schools to process international wire payments more efficiently. This enhancement is offered through a new partnership with peerTransfer, the leading organization in secure global education payment solutions in the United States. Compared to a traditional bank, peerTransfer allows students to save upwards of 2%-5% in exchange rates which can amount to savings of $1,500 on a $45,000 tuition payment.
“We provide our customers with high quality service that simplifies their business,” says Kelly Christiano, senior vice president, Sallie
Mae, “Our partnership with peerTransfer not only makes international payment processing easier, but it also saves schools and students a
significant amount of time and money.”
In collaboration with peerTransfer, schools will not only save time through a more efficient reconciliation process, but they will also
benefit from more accurate reporting with visibility into all pending and completed international bank transfers. Schools will receive a
single daily deposit of international wire payments that includes essential student information and payment amounts allowing for quick and
accurate postings. Implementation only takes a matter of hours and once complete, schools will have a customized hosted site with a
convenient online portal to track all payments. International students will be further supported by a 24/7 multilingual customer care
center, further decreasing the workload for schools.
“Our partnership with Sallie Mae is a perfect fit because both companies are focused
solely on education,” says Iker Marcaide, Chief Executive Officer of peerTransfer, “Combining Sallie Mae’s payment gateway with our
international payment solution will not only increase the efficiency of partner schools’ international reconciliation process, but will
also give their international students added support and significant cost savings when making education payments.”
This addition to Sallie Mae’s suite of campus solutions is a win-win for the school and its students. The partnership will give
international families the ability to make tuition payments in the currency of their choice with exchange rates unmatched by traditional
banks, generating thousands of dollars in savings for schools and students. In addition, international students and their families will
enjoy peace of mind knowing their education payment will arrive at the institution securely and in full.