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peerTransfer Helps Boarding Schools Handle Tuition Currency Exchange

A company that facilitates international payments for students in higher education is taking its service into the K-12 segment too. peerTransfer has struck agreements with several boarding schools in the United States and Canada to handle financial transactions of students attending from other countries. Traditionally, they’ve had to rely on complex and confusing banking services for these activities.

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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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