INTRO

You might have heard of Flywire if you want to study abroad. Most colleges and universities in the US, Canada, the UK, and Australia require students to pay their tuition through it. Flywire seems easy at first: one portal, numerous currencies, and immediate receipts. But if you’ve looked at the Flywire exchange rate and Google’s live rate side by side, you already know the truth: it’s pricey.

This blog will help you learn:

• Why does Flywire charge a lot?
• Why colleges want students to use Flywire?
  

  The Truth About the Cost of Flywire Money Transfer

Flywire is not a bank; it is a way to collect payments. It makes money and covers its costs by adding margins to the Flywire exchange rate. Let’s take it apart:

Why Flywire Costs So Much?

• High Exchange Rate Margins
  The Flywire fees are included in the currency conversion. If the Google live rate for 1 CAD is ₹61.5, Flywire might show you ₹62.5. That’s about ₹20,000 more on a transfer of 20,000 CAD.
• Hedging Rates
  For two to three days, Flywire locks in your exchange rate. It adds a greater margin to protect itself from changes. Flywire makes money no matter what the market does—students pay the price.
• The Monopoly Factor
  Many institutions only work with Flywire, so students often feel that they have “no choice.” Flywire can charge more than the market rate since it has a monopoly.
• Payments to universities and agents
  A secret: Flywire pays some colleges and IELTS/education agents a commission. This is why colleges push it, even if it costs students more.

Why Do Colleges and Universities Want Flywire?

At first, it seems weird that colleges would make students use a more expensive approach. Here is why:

• Easy for colleges and universities
  Universities don’t have to deal with hundreds of little wire transfers from all over the world. Every day, Flywire gathers, combines, and settles the money.
• Tracking in one place
  Flywire makes it easy for colleges to see who has paid via a dashboard. No pursuing students or matching up payment data.
• The burden of regulation has changed
  Universities don’t have to learn about RBI rules or outward remittance compliance; Flywire takes care of everything.

In short, it’s easy for the schools but expensive for the kids.

Flywire Charges in Real Life

Think about how much money you need to send to a Canadian university.

• Google live rate (₹61.5) = ₹12,30,000
• Flywire’s exchange rate is ₹62.4, which is ₹12,48,000

Because of Flywire’s hidden fees, that’s an extra ₹18,000. This adds up to lakhs of rupees over the course of several semesters.

Is There a Legal Option That Costs Less?

Yes, and that’s where IBRLIVE comes in.

Why Choose IBRLIVE Instead of Flywire?

• RBI-Authorized → Completely legal and follows Indian standards for sending money abroad.
• Exchange Rates in Real Time → No hidden fees, and you obtain rates that are closer to Google’s live rate.
• Direct University Transfers → Your money transfers immediately from your bank in India to your university’s account in another country. No middle layers.
• Charges that are clear → Fixed, transparent service price, so there are no confusing Flywire fees or high conversion rates.
• Personalized Support → IBRLIVE helps with paperwork, following LRS rules, and proof of payment—all the things that students and parents are worried about.

Why It’s Important to Pay Attention to Exchange Rates?

When you pay ₹15–30 lakhs in tuition, even a slight fluctuation in the Flywire exchange rate might cost you a lot of money.

For instance:

• A margin of only ₹0.80 per USD can add ₹80,000 to the cost of a 100,000 USD transfer.
• That’s the same as paying rent for a semester or your yearly health insurance while living abroad.

So why give Flywire that money when you can keep it for yourself?

Important Things for Students to Remember

• The high exchange rates hide Flywire fees.
• Monopoly, commissions, and making things easier for colleges and universities all make Flywire charges higher.
• Universities may want Flywire, but alternatives like IBRLIVE that are approved by the RBI are just as good and cost less.
• Before you pay, always check the Flywire exchange rate against Google’s live rate.

In Conclusion

Universities want you to use Flywire because it’s easier for them, not because it’s cheaper for you. Because of high Flywire exchange rates, international students from India end up spending thousands extra in Flywire fees and taxes.

But you don’t have to accept it. IBRLIVE is India’s trusted RBI-authorized money transfer service that lets you pay your tuition payments directly to institutions overseas at live rates, in a clear and safe way.

Smart Tip: Before you pay your next semester’s tuition, check out the rates on Flywire and IBRLIVE. The difference could be enough to pay for your next flight.

Check out IBRLIVE to pay your tuition fees