Over three million Nigerian students are currently studying in higher education institutions across Europe, and almost 22,000 are pursuing various degrees in the United Kingdom alone. Furthermore, recent reports reveal that Nigerians spent approximately $129 million on foreign education between January and February 2022.
Nigerians have always looked abroad for what many hope is a better, more convenient tertiary education experience. Attending a university in Nigeria, especially a government-funded one can be unpleasant for even the luckiest ones who secure admission into the institutions they prefer.
But, studying abroad is also not easy, especially for candidates with zero guidance, even if they can afford it. Many Nigerians struggle with seeking admission, paying fees, applying for visas, and completing relevant paperwork. Besides these struggles, there is inflation ravaging the country’s economy, and the exchange rate is abysmal. Students are sometimes confronted with dwindling fees due to an unstable rate.
So, if you fall into this category and are planning to study abroad, you definitely need convenient options to help you pay your tuition fees, secure loans, or even access a community. In this listicle, we’ll introduce you to three Nigerian fintech platforms—Vesti, Pay4Me, and Tuition by Flutterwave—that can simplify the process of paying your tuition abroad and also offer you other financial services that will ease your stay abroad.
Founded by Olu and Abimbola Amusan, Vesti is more than just a fintech platform; it’s a financial companion for those seeking opportunities abroad. With Vesti, you can access a wide range of financial services and valuable information designed to assist your journey as a student studying abroad.
First of all, the platform allows anyone who wants to migrate to find information & financial services like government payments, savings & health insurance. Then, it offers unique guidance for individuals looking to relocate to other countries, just like its founders did when they moved to the United States.
Apart from facilitating fee payments for students, the platforms also provide a supportive community of 272 million migrants who share similar experiences and challenges. Vesti makes it easier for students to secure loans, with a commitment to repayment.
Additionally, Vesti allows users to create virtual cards and make payments to hundreds of migration-related merchants. You can even pay for international immigration expenses in your local currency, making the process more straightforward and cost-effective.
Pay4Me is a dedicated payment platform designed to streamline tuition and fee payments for international students from Nigeria. The platform helps them make seamless local and international tuition and fee payments to universities, colleges, the government, and educational agencies.
Pay4Me goes the extra mile by connecting these students with study-abroad managers and relocation experts who can assist with visa processing, university selection, course choices, and relocation paperwork.
The fintech also offers dedicated student financial services like bank accounts, debit and credit cards, loans, instant P2P, and other educational support services in partnership with licenced and accredited money transmitters, banking partners, student loan companies, immigration firms, colleges, and universities.
As a Nigerian student, Pay4Me can help you pay your fees in your local currency within minutes, saving you from the hassles of currency conversion.
The Pay4Me app provides access to loans, funding opportunities, relocation guides, expert advice, and scholarship updates—all in one place.
Tuition by Flutterwave
Tuition by Flutterwave is an education payments platform that helps African students studying in Africa or overseas pay their school fees seamlessly and on time, using their local currency. The fintech offers a streamlined solution for African migrants studying either in Africa or abroad, enabling them to pay their school fees seamlessly in their local currency, and eliminating the need for complex currency conversions.
Though it does not yet cater to schools in America, users can register their schools on the platform. The list of schools available at present comprises institutions in the UK, such as Swansea University, University of Hertfordshire, and University of Leicester.
Apart from traditional universities, Tuition also supports payments to institutions like AltSchool Africa, which specialises in tech skills education. For a transaction with a school in the UK, Tuition charges a flat fee of 20 pounds.
The platform is still relatively new, having been launched in July this year.
This content is for informational purposes only and should not be construed as investment, tax or legal advice as Technext provides no endorsement, opinion or advice, including investment, tax or legal, and makes no representation or warranty about the suitability of a product for a particular reader or circumstance.
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