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Student Remittance

Pay tuition fees abroad, living costs and more to 150+ countries including the United States, United Kingdom, Canada, Australia and many more, at the lowest guaranteed rates, 24x7. Over 50,000 students and parents trust BookMyForex for education transfers backed by rate lock-in, same-day SWIFT proof and savings of up to 5% per transfer compared to banks and other remittance providers.

Send money for international university tuition fee payment, accommodation and living expenses, GIC and Blocked Account funding, student health insurance, monthly maintenance and pocket money, with expert guidance and dedicated education support from planning to payment. 

Send Money to Foreign Universities Securely (Guaranteed Lowest Rates)

Check out today's money transfer live rates: 

US Dollar flag
USD 
₹95.77 
Euro flag
EUR 
₹107.45 
UAE Dirham flag
AED 
₹26.65 
Singapore Dollar flag
SGD 
₹75.01 
Thai Baht flag
THB 
₹2.91 
Canadian Dollar flag
CAD 
₹68.28 
Swiss Franc flag
CHF 
₹116.65 
Hong Kong Dollar flag
HKD 
₹12.47 
Saudi Riyal flag
SAR 
₹25.82 
South African Rand flag
ZAR 
₹6.30 
Australian Dollar flag
AUD 
₹67.18 
Japanese Yen flag
JPY 
₹0.64 
British Pound flag
GBP 
₹128.20 
New Zealand Dollar flag
NZD 
₹54.41 
View All 
  • Fast. Online. Secure. Same-day transfers via trusted banks. 
  • Lowest Guaranteed Rates Zero hidden charges. 
  • Remittance Expert by Your Side Expert guidance from planning to payment. 

BookMyForex Offers

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  • RemitSPL Offer
  • Lowest Rate Guarantee
  • ₹500 cashback

Send Money Abroad for Education with BookMyForex

Indian students are among the largest groups remitting money internationally. From undergraduate programmes in the US and UK to postgraduate degrees in Canada, Australia, and Germany, hundreds of thousands of Indian families transfer tuition fees, living expenses, and accommodation costs every year.

University fee deadlines are strict. A delayed or incorrect payment can lead to late fees, cancelled enrolment, or visa complications. Even a small difference in exchange rates, across fees that often run into tens of thousands of dollars, can meaningfully change what you ultimately pay.

This is why the platform you use to pay your university fees matters. BookMyForex helps you transfer tuition fees securely and efficiently, with rate lock-in, same-day SWIFT proof, dedicated education support, and complete transparency on charges from start to finish. 

Why Trust Us

BookMyForex  -  India’s Leading Forex Marketplace 
Buy & sell forex online - order foreign currency notes, get forex cards, and send money abroad. Same-day doorstep delivery available in 65+ cities across India. Grab up to ₹7,500 cashback on forex card/currency notes and up to ₹15,000 on education related international money transfers!
  • Exchanged
    $1.7 Billion+  exchanged 
  • Customers
    6.5 Lakh+  customers 
  • Banks and Money Changers
    5,000+  banks & money changers partnered 
BookMyForex is Rated  4.7 out of 5 Stars.  Based on  45,665 Reviews. 

How to Pay Tuition Fees Abroad from India

BookMyForex makes it incredibly simple to send money abroad for education. Also, whether you're supporting family overseas, paying university fees, or  sending money abroad for any other purpose,  just follow these 4 steps:  

  1. Enter Amount & Currency
    Instantly view live rates,  applicable fees,  and how much your recipient will receive 
  2. Upload Documents
    A quick, fully online process, no branch visits, no physical paperwork
  3. Add Recipient Detail
    Provide the beneficiary's bank account number and  bank’s SWIFT/BIC code 
  4. Make Payment
    Pay via UPI or net banking. Education transfers same-day; all others within 12-48 hours

Best Way to Pay International University Fees Online? BookMyForex! Faster, Cheaper, Simpler

  • Best Rates, GuaranteedInterbank-linked rates, zero hidden charges, Lowest Rate Guarantee* 
  • 24x7 Online BookingSend money easily 24x7 via our website or app 
  • Quick Transfer Funds received abroad in as little as 6 hours 
  • Send Money WorldwideRemit funds to over 150 countries 
  • Rate Lock-In FeatureLock in desired rates for up to 3 days 
  • On-Call & Online SupportAssistance available via phone and chat 

Safety First: How BookMyForex Protects Your Money

BookMyForex International Money Transfer Statistics

Recent activity
  • AUD 1,500 sent to Australia from Bangalore for family maintenance
  • CAD 5,788 sent to Canada from Delhi for education fees
  • AUD 5,360 sent to Australia from Bangalore for a personal transfer
  • USD ▼ weakened by 0.6% against Indian Rupee (vs yesterday, 21 Oct 2026)
  • AED ▼ weakened by 0.5% against Indian Rupee (vs last week, 15–21 Oct 2026)
Source: Indicative transaction trends

Country-Specific Payment Guidelines for Student Remittance

Education payment requirements differ by destination and university. Follow the payment instructions provided by your institution to ensure accurate and timely processing. 

• Payments can be routed directly using the university's ABA Routing Number and Account Number.

• Include the student's full name and student ID in the remittance reference wherever required. 

If Your Wire Transfer Gets Rejected

  • Why payments get rejected 

Payments can fail due to incorrect beneficiary information, missing documents, missing payment references, or specific receiving bank requirements. 

  • You will be notified 

If a transaction is rejected, you will be informed of the exact cause and provided with clear instructions on what to do next. 

  • Swift refund process & timeline 

Eligible refunds are initiated immediately and typically reflect back in your account within 4 to 5 working days. 

Purposes for Which You Can Send Money Abroad for Education from India

As per  RBI's Liberalised Remittance Scheme (LRS)  Indian residents can send up to USD 2,50,000 per financial year. The key purposes permitted for education-related remittances are as follows:  

  • Foreign University Tuition Fee Payments The single largest payment. It goes straight to the university account or through its fee portal, usually two or three times a year, against a fee invoice. 
  • Accommodation and Living Expenses Monthly money for hostel rent, food, transport and phone bills. These land in the student's own account abroad and continue through the course. 
  • GIC and Blocked Account Funding Many countries ask students to hold money locally before they grant a visa. Canada uses a GIC, Germany a blocked account, and the UK a maintenance balance. 
  • Student Health Insurance Payments Most countries make student health cover compulsory. Premiums go to the university or an approved insurer, often paid in one go for the whole year. 
  • Maintenance Payments to Students Flight tickets, the first month's rent, a laptop, bedding and warm clothes. These transfers cluster in the weeks around departure and add up fast. 
  • Gifts and Pocket Money Smaller sums for pocket money, gifts, forms, entrance tests, credential checks and seat deposits. These are sent throughout the duration of the course. 

Best Way to Send International University Tuition Fees

Wire transfers are the easiest and most affordable option to send money from India to over 150 countries. Enjoy the speed and convenience of sending money overseas directly from your Indian bank account to the recipient's account. Read more to  discover everything about wire transfers . 

Top Countries for Sending Money Internationally with BookMyForex

Ways to Pay Tuition Fees Abroad from India

There are four established ways to pay a foreign university from India. Each method differs in cost, speed and convenience. 

  • Wire Transfer The money moves directly from your bank account to the university's account, which makes it the fastest option for large fees. A forex platform like BookMyForex usually costs less than a bank, because banks often add an exchange rate markup of 2% to 4%. 
  • Demand Draft Your bank issues a draft in the university's name, and you send it to the university by post. The method is secure, but it can take 10 to 15 days before the university receives the payment. 
  • Forex Card This option works when the university accepts card payments. Choose a card that has no cash disbursal fee, because a 2% charge on a large tuition payment becomes expensive. The BookMyForex forex card is a great fit here. 
  • Credit Card Some universities accept credit card payments, which is convenient if you already have one. However, the interest charges are high if you do not clear the bill at once. 

Comparison: BookMyForex vs. Other Ways to Send Money from India for University Fees

Feature
Exchange Rates
Fees & Charges
Transfer Speed
Countries Supported
Rate Lock-In
Availability
Money Transfer via BookMyForex
Interbank-linked best rates; save up to 5%
Just ₹320 + GST bank fee and ₹1,180 Nostro charges, with no hidden charges
Same-day (education, as fast as 6 hrs); 12-48 hrs
150+ countries worldwide
Lock in rates for up to 3 days
24/7 online booking via website & app
Online Remittance Providers
High markups (up to 5%), limited transparency
Variable transfer fees based on the amount and currency, going up to ₹7,500 per transaction
3-7 working days (minutes for cash pickup in some corridors)
Limited to select corridors
Not as flexible
Subject to banking hours, currency and payment method.
Bank Wire Transfer
2-4% markup over base rate
₹1,500–₹2,000 Bank Fee + GST + Additional Nostro Charges depending upon currency
3-5 working days
Most countries via SWIFT
Not available
Limited to bank hours

Documents Required for International Wire Transfer from India for Student Remittance

The documents required for your international education wire transfer are: 

  • PAN card
  • KYC and Address proof (Aadhaar / Passport / Voter card) 
  • Outward Remittance Application (A2 cum LRS Declaration)  
  • Admission/university offer letter 

Explore the Complete Money Transfer Guide → 

How Money Is Received for Education Remittance

An international student money transfer takes one of two routes. Both are simple once you know the details you need.

The first is a direct bank transfer. You need the university's account number, its SWIFT code and often an IBAN. You must also add the student ID or invoice number as a reference. Without it, the university cannot match your payment to the right student.

The second route is a university payment portal. Many institutions route their fees through one. It gives you a unique reference and a fixed rate window.

Living costs work in a different way. Parents send these straight to the student's own bank account abroad. Once a student is settled and holds a local account, money can move both ways.

Every transfer needs the right RBI purpose code, and for studies that code is S0305. Keep the university offer letter, the fee invoice, your PAN and passport copies, and a signed LRS form ready. TCS applies only above 10 lakh rupees in a year, and studies are taxed at a lower rate than most other purposes. 

TCS on International Money Transfers from India

As per the Union Budget 2026, Tax Collected at Source (TCS) applies to outward remittances under LRS based on the purpose and amount of transfer. Here are the applicable TCS rates:

● Education via education loan: 0% TCS (any amount)
● Self-funded education & medical treatment: Nil up to ₹10 lakh; 2% above ₹10 lakh
● All other outward remittances: Nil up to ₹10 lakh; 20% above ₹10 lakh

Note: TCS is not a final tax, it can be claimed as credit when filing your ITR. BookMyForex auto-calculates applicable TCS at checkout so there are no surprises.

 Know More About TCS → 

BookMyForex International Wire Transfer Testimonials

Nirmal SivamHyderabad, Telangana
I use BookMyForex fund transfer services for my US university tuition and living expenses from India because they offer the best exchange rates.
Raj GyaniJaipur, Rajasthan
As a senior citizen, I was anxious about completing the transaction, but BookMyForex guided me patiently. The funds were credited to my son's account super fast!
Yashvant Kashinath JoshiMumbai, Maharashtra
Great remittance platform with prompt service. I hit a few initial hiccups, but the team resolved everything quickly. Overall, an excellent experience!
Ramesh IsraniMumbai, Maharashtra
BookMyForex is transparent, safe, and easy to use. The team is highly experienced, providing fast transfers, the best exchange rates, and minimal bank fees.
AkshayLondon, UK
Great service, fast transfers, and good rates. Their team explained everything over the phone and made the whole process easy!
Sanjay Tripathi
No hidden charges, Easy to use, Excellent Order Tracking, Best Exchange Rate
Pratyaksh
Smooth and Easy Online Process

Read More Money Transfer Reviews → 

BookMyForex Media Mentions

Send Money Overseas from India for Education with the BookMyForex App

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Whether it's for university fees, medical expenses, a heartfelt gesture, funding your GIC/ blocked account, or any other purpose,  the BookMyForex App makes transferring money from India effortless. 

Download the app and transact with ease, right from your smartphone!

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Frequently Asked Questions (FAQs) About Overseas Student Remittance

Can I send money abroad from India for student remittance?

Yes. You can send money abroad for student remittance. It is a purpose the RBI allows under its Liberalised Remittance Scheme, known as LRS. Any resident Indian can use the scheme, and so can minors. You do not need separate RBI approval. BookMyForex sends your money through partner banks that the RBI has authorised, so the transfer is fully FEMA compliant. A few things are barred, such as lottery tickets and forex margin trading. Transfers to countries on the FATF high-risk list are barred too.

How much money can I send abroad for student remittance in a year?

You can send up to USD 250,000 in a financial year. That ceiling covers every purpose together, not each one on its own. So a transfer for education draws on the same yearly pot as any school fee or hospital bill you have paid abroad. The limit is tracked against your PAN across all banks, not bank by bank. Three purposes can go past it without RBI approval. These are education, medical treatment and emigration. For those you need a written estimate from the university, the hospital or the country you are moving to. Every other purpose needs RBI permission to cross the line.

Will I have to pay TCS on a transfer for student remittance?

How much you pay depends on why you are sending the money. Education paid for by an approved education loan is fully exempt from TCS. Education and medical transfers are taxed at 2% on the amount above ₹10 lakh in a financial year. Overseas tour packages are taxed at a flat 2% from the very first rupee, with no threshold at all. Every other purpose, including gifts, donations, family support and emigration, is taxed at 20% above ₹10 lakh. TCS is not really a fee, though, because you can set it against your income tax or claim it back when you file your return. It does not apply to NRIs.

What documents do I need to send money abroad for student remittance?

Two are needed every time: your PAN card, address proof such as Aadhaar or a passport. On top of that you need one document that proves your purpose. For education it is the offer letter and the fee invoice. For family support it is proof of how you are related. For medical care it is the hospital estimate. For a donation it is the charity's registration details. Everything is uploaded online, so there is no branch to visit.

Who am I allowed to send the money to?

That depends on the purpose you pick, and it is the rule people get wrong most often. Family maintenance is the strictest. It only covers close relatives as the Companies Act 2013 defines them: your spouse, parents, children, son's wife, daughter's husband, brothers and sisters. Cousins, uncles, aunts, nieces and friends are not on that list. You can still send them money, but it has to go as a gift instead, which changes both the code and the paperwork. Education money can go to the college or to the student. A donation has to reach the organisation's own account, never a person collecting for it.

What is a purpose code, and does it matter which one I pick?

Every transfer out of India is reported to the RBI under a code that says why the money is going. It is not a formality. The code decides which TCS rate applies and which papers your bank has to collect. Picking the wrong one on purpose, such as calling an investment a gift to pay less tax, counts as misclassification. That carries consequences under FEMA and under the Income Tax Act. Our team confirms the right code with you before your money moves.

How long does a transfer for student remittance take?

Most transfers are completed within 12 to 48 business hours. The clock starts once your documents have been checked and your payment has gone through. Education transfers are treated as priority and can land the same day, sometimes in about six hours. Missing or mismatched documents are the usual reason a transfer gets delayed. Uploading the correct proof at the start is the single best thing you can do to speed yours up.

How much does it cost to send money abroad for student remittance?

You get our lowest exchange rates with no hidden markups, which saves you up to 5% against a typical bank rate. A bank fee of ₹320 plus GST applies to each transfer, and Nostro charges of ₹1,180 may also apply, depending on the route your money travels. The fee stays the same whatever you are sending the money for. What changes with the purpose is the TCS, not the charge itself. Every applicable cost is displayed clearly before you confirm your order.

Can NRIs send money abroad for student remittance?

LRS is designed for residents, so an LRS transfer leaves from a resident savings account. NRIs move money a different way, through NRE or NRO repatriation, which carries its own rules and limits and no LRS TCS. BookMyForex handles both. Not sure which category you fall into? Under FEMA you are usually treated as a resident if you spent more than 182 days in India during the previous financial year.

Why might a transfer for education be delayed or rejected?

Usually because something does not line up. The purpose you selected may not match the document you uploaded. The person you are paying may not qualify under that purpose. The name on their account may differ from the name on your paperwork. Or your yearly LRS limit may already be exhausted at another bank. Transfers to countries on the FATF high-risk list are refused outright. Checking these four things before you book prevents almost every delay.

How is my university fee transfer processed, and will an intermediary bank be involved?

Transfers are processed through our authorised banking partners and available payment routes to help reduce unnecessary processing steps and delays. Depending on the payment route, an intermediary bank may be involved before the funds reach the receiving bank. Processing time and any applicable charges can vary based on the destination, currency and receiving bank.

Can bank holidays affect my university fee transfer?

Yes. Banking holidays, including Saturdays and Sundays, in India or the destination country can affect processing timelines. Our team helps you identify applicable holidays in advance so you can plan your payment accordingly and avoid unnecessary delays.

What if my passport was issued in a foreign country? Will I be treated as an Indian resident?

Yes, if you can confirm and provide evidence of residing in India for more than 182 days in the preceding financial year. You will be asked to submit all pages of your passport to validate your immigration stamps and timeline.