UNIVERSITY students across the world will now have greater access to reduced tuition costs, with Cohort Solutions announcing the global expansion of its payment platform, Cohortpay.
Cohortpay now offers local payment options for students in 60 countries across Europe, Africa, Asia and North and South America, along with the newly added capability of servicing students studying in New Zealand.
The payment platform offers savings to 600,000 international students enrolled in Australia each year, converting their Australian dollar tuition fees at a low foreign exchange rate and eliminating extra fees and charges.
Mark Fletcher, CEO of Cohort Solutions, believes Cohortpay can bypass many of the fiscal obstacles stopping overseas students from studying in Australia and New Zealand.
"Cohortpay offers significantly lower foreign exchange rates on tuition fee payments for the many international students studying in Australia," Fletcher says.
"Cohortpay's services allow students to make tuition payments in their local currency, and remove international money transfer fees from the equation.
"Some of our students studying medicine in Melbourne, for example, are paying over AUD$75,000 per annum for a four-year course. When compared to costs charged by their banks at home, some of these students are saving over AUD$11,000 using Cohortpay. With these sorts of savings in mind, we expect a successful expansion into the New Zealand market will bring exciting growth, with payments already being enabled and future deals in the making."
Fletcher hopes the company's growing stature will entice Cohortpay users to adopt other services offered by Cohort Solutions, including health insurance, short-term accommodation, transportation and mobile sim cards.
"With growing confidence and awareness of the brand, Cohort Solutions envisions users will adopt multiple complimentary products to maximise their savings and ease their transition into a student's life in Australia and New Zealand," he says.
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