Sungkyunkwan University Introduces the First Foreign Exchange Payment Service for Tuition Fees

- Introduction of an Easy-to-use Payment System called Flywire, a U.S. global fintech company

- Conveniently pay for tuition in local currency overseas using various payment methods

Our university has introduced an easy-to-use payment service for tuition fees for foreign students who have experienced difficulties in paying tuition fees from the first semester of 2023.

Previously, when 4,000 foreign students had to transfer tuition from their home country every semester, there was the inconvenience of having to visit a local bank in person, and the remittance period took up to four days. In addition, if the remittance amount changes due to exchange rate fluctuations, the tuition fee was not often paid correctly because the registration amount and the actual payment amount did not match, so it was quite troublesome for universities to receive many complaints and call inquiries from the students.

To answer this problem, it introduced a simple payment service for tuition fees provided by Flywire, a global fintech company, and improved it so that tuition fees can be easily paid in local currency overseas. Students can conveniently pay tuition just by accessing the school website anytime they wish, and both universities and students can check the payment progress in real-time.

Various local currencies from more than 140 countries can be used, and students can freely choose the desired payment method such as account transfer, credit/check card transactions, and others.

This global payment platform-linked tuition payment service will be implemented for the first time in the regular semester of a domestic university, and it is expected that the convenience of paying tuition fees will be greatly improved for not only 4,000 foreign students attending but also domestic students staying abroad.

An international student from Indonesia said, "It was very convenient to use the simple foreign currency payment service," and added, "I hope I can pay for dormitory fees through flywire in the future."

○ Flywire Tutorial Video(Click Here)