About a month ago, Flutterwave introduced Tuition, a product designed to facilitate Africans, starting with Nigerians, in paying their fees for studying abroad in their local currencies.
The platform aims to remit the money to the schools within two days and ensure smooth payment confirmation.
Olugbenga Agboola, the CEO of Flutterwave, expressed excitement about launching Tuition to support the dreams of African students who want to study abroad without worrying about meeting their school fees deadlines.
Stella Elele, the Product Manager of Tuition, shared that the service is intended to provide a safer, reliable, and affordable means for African students to pursue their educational aspirations with support from parents, guardians, and sponsors.
The current education landscape in Nigeria prompts many students to seek better opportunities overseas due to limited university options and job uncertainties after graduation.
Tuition by Flutterwave: A Timely Solution
While Nigerians have historically used Naira cards for international transactions, finding one for such purposes has become challenging in recent months. As an alternative, virtual Dollar cards were used, but unfavorable policies made them less viable.
Tuition by Flutterwave serves as a timely solution for Nigerians, allowing them to use their Naira cards to interact with the international market, especially in the United Kingdom, where several universities are listed on the platform.
While the service is currently limited to UK schools, it does offer an option to pay for AltSchool Africa, which provides tech-related courses.
However, Tuition must be competitive with its rates to attract users, as it currently charges a flat fee of 20 pounds for transactions to UK schools.
One potential challenge is dealing with an unstable exchange rate, and the platform should be prepared to address such fluctuations to maintain its appeal to users.
Overall, Tuition by Flutterwave appears to be a promising solution for Nigerian students seeking a smoother way to pay their fees for overseas education, with the potential to become a preferred option if it can offer competitive rates and handle exchange rate uncertainties effectively.
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