Collaboration Simplifies Education Loan Payments for Indian Students Abroad
Flywire Corporation, a global payments and enablement company, has announced a strategic partnership with Avanse Financial Services, India’s second-largest education-focused non-banking financial company (NBFC). This collaboration aims to simplify the process of disbursing education loan payments for Indian students pursuing education opportunities abroad.
Key Benefits of the Integration
• Competitive foreign exchange conversion rates for students
• Transparent payment tracking for students, schools, and financial institutions
• Enhanced compliance with international banking regulations
• Streamlined TCS calculations for payments
• Simplified documentation requirements for both students and institutions
The partnership between Flywire and Avanse enables Indian students to process payments for their education loans entirely in Indian rupees, with the ability to monitor transactions until funds reach their university. Flywire ensures transparency over all loan disbursements, facilitates efficient refunds, and automates the complex Tax Collected at Source (TCS) calculations.
Quote from Avanse’s CEO
“We believe in providing a holistic education financing experience. This collaboration with Flywire will create compelling and sustaining value for our customers, enabling them to focus entirely on their academics while leaving the financial complexities to us.”
About Flywire
Flywire is a global payments enablement and software company that combines its proprietary global payments network, next-gen payments platform, and vertical-specific software to deliver complex payments for its clients and their customers. Flywire supports more than 4,500 clients with diverse payment methods in over 140 currencies across 240 countries and territories.
About Avanse Financial Services
Avanse Financial Services Limited is an education-focused non-banking financial company (NBFC) on a mission to provide seamless and affordable education financing for every deserving Indian student. The company offers loans across three key segments: Student Loan – International, Education Loans Domestic, and Safe Harbor Statement.
For more information, please contact:
Flywire: Masha Kahn, [email protected]
Avanse Financial Services: Koeli Dutta, [email protected]
| Company Name | Industry | Location |
|---|---|---|
| Flywire | Payments Enablement | Boston, MA, USA |
| Avanse Financial Services | Education Finance | Mumbai, India |
“We’re excited to collaborate with Avanse to enhance the process of student loan disbursements from India,” commented Mina Fakhouri, SVP, APAC & Global Agents at Flywire. “The combination of Avanse’s presence in India and Flywire’s innovative payment technology addresses a crucial market gap for both students and lending institutions.
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