A good number of Nigerians are embracing abroad studies especially for postgraduate Programs.
Many prospective Nigerian students who embark on studies abroad are usually faced with numerous challenges of which how to pay school fees for schools in UK, Canada,USA from Nigeria is one of the major challenges.
Ordinarily, international payments shouldn’t be rigid as result of advancements in technology,but Nigeria’s difficult in processing of international payments is more of government policies than technology.
Many Nigerian students who are admitted into foreign universities and colleges especially in Europe and North America usually go through rigorous process and sometimes miss out on deadlines in a bid to pay their abroad school fees.
In this article,we will review abroad school fees payment options available in Nigeria.
This post will provide you with how you can pay for abroad studies school fees from Nigeria irrespective of country of study and program of study.
How Can I Pay for My Abroad School Fees or Tuition Deposit From Nigeria?
If you are looking for how to pay for your UK, Australia, Canada,USA, Austria, New Zealand,Finland University or college school fees from Nigeria, read through this article carefully.
We have identified three (3) options available that you can use to pay for your abroad school fees from Nigeria irrespective of the currency the fees are requested, be it US dollars, UK pounds or Euros.
Best & Fast Ways to Pay for Abroad School Fees From Nigeria
Here are ways you can pay for your international school fees and tuition deposit from Nigeria.
1. Pay Through CBN e-Form (A) Website- www.tradesystem.gov.ng
This is the most popular and used method of paying for abroad school fees from Nigeria.
This is an abroad school fees payment system created by Nigeria’s Central Bank which aims at paying for Nigeria student’s abroad tuition fees through various commercial banks in Nigeria.
This method of abroad school fees payment from Nigeria is popularly known as use of form “A”.
It gives students access to pay International tuition fee or deposit through the bank’s official exchange rate and in the excess of $15,000 per semester and $5000 upkeep for the student.
This method was put in place by CBN to ensure that students are protected from the black market and that they get this fund which they genuinely need.
However, one of the major demerits of this way of paying abroad school fees from Nigeria is that it is slow and takes time.
This is perhaps as result of high number of applicants on the cue. Sometimes the commercial bank you are applying through play a role in getting your form “A” proceeded faster.
There are requirements that qualifies one to use this payment option. You can pay your abroad school fees from Nigeria using form “A” if your meet the following criteria:
- You’re paying for school fees abroad
- You’re a Nigerian
- Paying for training abroad
- You have an unconditional admission letter from the institution abroad
- Tuition fees limit is $15,000 per semester
- Upkeep fees limit is $5,000 per semester
These are some of the requirements you must meet to be able to use form A for your abroad school payment.
List of Documents Required to Apply for Form”A” Abroad School Fees Payment
To be able to apply and process abroad school fees payment through the use of CBN form”A”, the applicant must make available the following documents.
If not they would encounter hitches in their application for form “A” school fees payment for international students.
- Your valid international passport
- Admission letter
- Invoice from the school abroad containing the school account/IBAN number
- WAEC result (for undergraduates school fees payment) or first degree certificate (for masters students)
- Sponsor’s identification document (if the student is paying through a sponsor) e.g. int’l passport, voter’s card, driver’s license, or NIN.
Step-by-Step Guide on How to Pay Your School Fees Abroad with CBN e-form “A”
Here are steps that will guide you in making seamless payment for your abroad school fees using form “A”.
- Fund the source account with an estimate of the Naira value of the school fees. The source account could be yours (the student) or a sponsor. It is this account that will be debited for the transaction to pay your school abroad.
- Visit the CBN’s Trade Monitoring System Portal
Register with your BVN (individual) or TIN (organization)
- An OTP will be sent to your registered email.
- Verify your email
- Login and choose Educational Fees
- Fill the necessary fields
- Upload the required documents
After performing these steps, the CBN send prompt to your commercial bank who will further conclude and effect the final payment of the fees to desired destination school.
However, this would be subject to availability of US dollar to the bank and when it gets to your turn on the cue of application.
This is Why sometimes it takes months to pay for your abroad studies from Nigeria using this process.
It is advisable for those with intention of paying their abroad school fees from Nigeria using form”A” to initiate the process very early and if possible 4 months to the deadline.
2. Pay Through Domiciliary Account
It is also possible to pay for abroad school fees and tuition deposit from Nigeria through Domiciliary account popularly known as dollar account.
However, you will need to fund this account with either US dollars, Pounds Sterling or other foreign currencies. You can fund your dorm account by buying dollar in black market or from family or friend living abroad who would simply send in the money to the dollar account.
Once the Domiciliary account is funded you can initiate your abroad school fees payment through raising bank transfer directly to your school account.
Also, you can initiate your abroad school fee payment through your banking mobile application or through US dollar debit card linked to the Domiciliary account.
This process is easy and faster as your school can receive the payment within 1 business day or instantly in some cases. It is the best way to pay for your tuition deposit for abroad schools from Nigeria.
3. Pay Through Agents
There are certain agents both in and outside Nigeria that undertakes facilitation of payment of abroad school fees and tuition.
These agents can help you pay for your school fees and tuition deposit for any school across the world while you in turn pay them equivalent in Naira and charges for such services.
This is another way you can pay for your abroad school fees from Nigeria.
However, care must be taken when using this means as there are numerous fake agents masquerading as real agents looking for those to defraud.
This is why you must deal with only verified and certified agents for this purpose.