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.”Read more