Throughout your studies, you are likely going to need to get money to Australia to pay your tuition fees and living expenses. In general, a wire transfer (called a telegraphic transfer in Australia) is the most effective way to do this. There are a few options of which you should be aware. Paying attention to rates can save you thousands of dollars (in some cases over ten thousand dollars) over the course of your full degree.
Over the last few years, OzTREKK has been a proud supporter of Cohort Go, an Australian company specializing in international student services. The company is incredibly responsive, and our students are treated well—as they should be! Cohort Go allows students to make tuition payments in their local currency and convert their AUD tuition fees at a significantly lower foreign exchange rate while eliminating extra international money transfer fees from the equation. We have found this is the cheapest way to pay your tuition and save as much as $15,000 over the course of your studies. You just need to make a local bank transfer and Cohort Go takes care of your payment from there.
OzTREKK isn’t any getting any referral rewards, we just really think this is one of the best solutions available for our students.
Transferring your money
After you’ve paid your initial deposit via your university’s preferred method of payment (recommended), you’ll want to look into the cheapest ways to transfer your money!
Cohort Go is a secure payment platform designed specifically for students that will save you time and money.
- Cheapest way to pay your tuition
- Save as much as $15,000*
- Used by thousands of students worldwide
What is Cohort Go?
Offering significant savings to more than 600,000 international students enrolled in Australia each year, Cohort Go allows students to make tuition payments in their local currency and convert their AUD dollar tuition fees at a significantly lower foreign exchange rate while eliminating extra international money transfer fees from the equation.
Since inception, Cohort Solutions has now assisted approximately 50,000 students from more than 180 different countries, studying at almost all institutions in Australia that offer international education.
The Australian Government has recognised Cohort Go for Innovation and Entrepreneurship in both 2014 and 2015, and in 2015, took 36th place in the top 100 “Fast Starters” list published by the Business Review Weekly (BRW) as one of the youngest and fastest-growing companies in Australia.
How it works
Cohort Go converts your education expenses at foreign exchange rates usually only available to large corporations and they pass these savings on to you. You just need to make a local bank transfer and Cohort Go takes care of your payment from there.
1. Set up your payment
Visit Cohort Go for your preferred rate, and follow the step-by-step instructions!
• Home country
• Destination country
• Fee total in Australian dollars (AUD)
2. Customize your payment
• Personal information (student ID, etc.)
• University and program details
• Upload your Letter of Offer
3. Select payment method
Least expensive way is domestic bank transfer (preferred option)
4. Complete the rest of the payment setup
• Identity verification: name, DOB, address, passport number, etc.
• Payment method: Details are provided in your offer letter
• Payer Information: You or another person (parent)
And then… confirm transaction!
5. Go to your bank
Take your payment advice to your Canadian bank and make a CAD wire transfer to Cohort Go using the instructions provided. Keep your receipt and track your payment online!
6. Funds Received email
Within 1–3 days, you will receive a “Funds Received” email. This means that Cohort Go now has your money and will transfer it to the university.
7. Payment confirmation email
When the money is remitted to your uni, you will receive a “Payment Confirmation” email, usually within 3 days*.
8. You’re finished!
Your payment has been made and you’ve saved money!
* Timeframes may vary on your bank, holidays, and other circumstances outside Cohort Go’s control.
|Provider||Canadian Dollar||Fees||Total You Pay||Added Expense|
|You Payˆ||Cohort Go||$64,487||$0||$64,487||$0|
ˆ Fees and rates were calculated based on calls with branches from each bank on July 11, 2019.
* Based on tuition and living expenses over full degree.