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When Lost Money Inspires

The sometimes awkward business of handling money transfers by overseas students is attracting interest from entrepreneurs.

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peerTransfer Expands International Payment Services into Australian Markets

peerTransfer, the leading provider of innovative global payment solutions for the education industry, has expanded its services into the Australian market. Australia represents the third largest market for international students studying abroad, a segment that pays an estimated $4 billion dollars per year in tuition and fees, according to a study by John Phillimore and Paul Koshy from the John Curtin Institute of Public Policy at Curtin University. peerTransfer has partnered with such notable schools as Australian Catholic University, the University of Southern Queensland, and the University of the Sunshine Coast.

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3 Steps for International Students to Make U.S. Tuition Payments: Currency exchange and wire transfer fees can add up when paying for a U.S. college education.

Iker Marcaide was shocked to learn in 2008 that sending a tuition payment to MIT’s Sloan School of Management via his Spanish bank account would cost more than $1,500. “The fee the bank charged to exchange currency, plus the wire fees, added more than 3 percent to a tuition bill that already topped $50,000,” says Marcaide. “Plus, the money wire was lost for several weeks.”

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US Firm Enables Payments in CNY

US firm PeerTransfer says it has become the first transfer service allowing Chinese students to make direct education payments overseas in their home currency, the renminbi. Through the system students in the US, Europe, Australia and Canada can pay for fees and other expenses without the usual hassle and cost.

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peerTransfer First to Help Chinese International Students Pay in Renminbi

peerTransfer, the leading provider of innovative global payment solutions for the education industry, has become the first to offer Chinese students the ability to make international education payments in their native Chinese Renminbi. According to the Institute of International Education there were 157,558 Chinese students studying in the United States during the 2010/2011 academic year, an increase of 23.3 percent over the previous year. Chinese students account for 21.8 percent of the total US international student population.

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