In pursuit of academic excellence in countries other than Nigeria, one may be faced with many issues. One of the toughest is this issue of paying full or part of one’s tuition/school fees from Nigeria here. 

Actually, there are many ways to pay your school fees to your school abroad while in Nigeria. Most students whose schools are in Austria, the USA, UK, Ireland, China, India, Canada, Europe, Australia, and so on would likely be paying their tuition in foreign currencies. Paying with the Central Bank rate makes it less expensive than when paid with other payment methods.

HOW TO PAY YOUR SCHOOL FEE WITH CENTRAL BANK RATE

Through the Use of CBN e-Form “A” Website (www.tradesystem.gov.ng)

This method is enabled by CBN and commercial banks. The CBN allocates and disburses a certain volume of foreign currency to all banks, and other approved institutions weekly. Then they are instructed to sell the foreign currency at authorized prices to Nigerians who genuinely need it.

You only qualify to use this method if:

You’re paying for school fees abroadYou’re a Nigerian paying for training abroadYou have an unconditional admission letter from the institution abroad

Tuition fees limit is $15,000 per semester and Upkeep fees limit is $5,000 per semester.

This is how to pay school fees through the new CBN website:

Step-by-step guide on how to pay your school fees abroad with e-form A using CBN Website (www.tradesystem.gov.ng):

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 PortalRegister with your BVN (individual) or TIN (organization)An OTP will be sent to your registered email.Verify your emailLogin and choose Educational FeesFill the necessary fieldsUpload the required documentsSubmit

Note: Once you submit, a prompt is sent to your preferred bank who reviews the transaction and processes it further. This process is subject to the bank’s availability of FX.

List of documents required to process the school fees payment abroad through Form A:

Making this list here is very important to ensure that you carry the correct documents to the bank. Here is the list below:

Your valid international passportAdmission letterInvoice from the school abroad containing the school account/IBAN numberWAEC 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.

The only downside about this method of paying school fees abroad using CBN Form A is that the processing time is highly subject to the bank’s FX situation. Typically, payment of school fees to your school abroad is around 1-2 weeks.

Follow our blog to learn more on studying abroad!

Nice one

LAAMGlobal:
In pursuit of academic excellence in countries other than Nigeria, one may be faced with many issues. One of the toughest is this issue of paying full or part of one’s tuition/school fees from Nigeria here. 

Actually, there are many ways to pay your school fees to your school abroad while in Nigeria. Most students whose schools are in Austria, the USA, UK, Ireland, China, India, Canada, Europe, Australia, and so on would likely be paying their tuition in foreign currencies. Paying with the Central Bank rate makes it less expensive than when paid with other payment methods.

HOW TO PAY YOUR SCHOOL FEE WITH CENTRAL BANK RATE

Through the Use of CBN e-Form “A” Website (www.tradesystem.gov.ng)

This method is enabled by CBN and commercial banks. The CBN allocates and disburses a certain volume of foreign currency to all banks, and other approved institutions weekly. Then they are instructed to sell the foreign currency at authorized prices to Nigerians who genuinely need it.

You only qualify to use this method if:

You’re paying for school fees abroadYou’re a Nigerian paying for training abroadYou have an unconditional admission letter from the institution abroad

Tuition fees limit is $15,000 per semester and Upkeep fees limit is $5,000 per semester.

This is how to pay school fees through the new CBN website:

Step-by-step guide on how to pay your school fees abroad with e-form A using CBN Website (www.tradesystem.gov.ng):

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 PortalRegister with your BVN (individual) or TIN (organization)An OTP will be sent to your registered email.Verify your emailLogin and choose Educational FeesFill the necessary fieldsUpload the required documentsSubmit

Note: Once you submit, a prompt is sent to your preferred bank who reviews the transaction and processes it further. This process is subject to the bank’s availability of FX.

List of documents required to process the school fees payment abroad through Form A:

Making this list here is very important to ensure that you carry the correct documents to the bank. Here is the list below:

Your valid international passportAdmission letterInvoice from the school abroad containing the school account/IBAN numberWAEC 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.

The only downside about this method of paying school fees abroad using CBN Form A is that the processing time is highly subject to the bank’s FX situation. Typically, payment of school fees to your school abroad is around 1-2 weeks.

Follow our blog to learn more on studying abroad!

Pls share your blog link...thanks for the Info also

How long does the process take?

osarodon:
Nice one

How long does this process take?

LAAMGlobal:
In pursuit of academic excellence in countries other than Nigeria, one may be faced with many issues. One of the toughest is this issue of paying full or part of one’s tuition/school fees from Nigeria here. 

Actually, there are many ways to pay your school fees to your school abroad while in Nigeria. Most students whose schools are in Austria, the USA, UK, Ireland, China, India, Canada, Europe, Australia, and so on would likely be paying their tuition in foreign currencies. Paying with the Central Bank rate makes it less expensive than when paid with other payment methods.

HOW TO PAY YOUR SCHOOL FEE WITH CENTRAL BANK RATE

Through the Use of CBN e-Form “A” Website (www.tradesystem.gov.ng)

This method is enabled by CBN and commercial banks. The CBN allocates and disburses a certain volume of foreign currency to all banks, and other approved institutions weekly. Then they are instructed to sell the foreign currency at authorized prices to Nigerians who genuinely need it.

You only qualify to use this method if:

You’re paying for school fees abroadYou’re a Nigerian paying for training abroadYou have an unconditional admission letter from the institution abroad

Tuition fees limit is $15,000 per semester and Upkeep fees limit is $5,000 per semester.

This is how to pay school fees through the new CBN website:

Step-by-step guide on how to pay your school fees abroad with e-form A using CBN Website (www.tradesystem.gov.ng):

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 PortalRegister with your BVN (individual) or TIN (organization)An OTP will be sent to your registered email.Verify your emailLogin and choose Educational FeesFill the necessary fieldsUpload the required documentsSubmit

Note: Once you submit, a prompt is sent to your preferred bank who reviews the transaction and processes it further. This process is subject to the bank’s availability of FX.

List of documents required to process the school fees payment abroad through Form A:

Making this list here is very important to ensure that you carry the correct documents to the bank. Here is the list below:

Your valid international passportAdmission letterInvoice from the school abroad containing the school account/IBAN numberWAEC 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.

The only downside about this method of paying school fees abroad using CBN Form A is that the processing time is highly subject to the bank’s FX situation. Typically, payment of school fees to your school abroad is around 1-2 weeks.

Follow our blog to learn more on studying abroad!

marymacwhite:
How long does this process take?

A week or less, a month or less, 2 months or less

Is it advisable to use form A? My school fees expires in 30 days

osarodon:
Nice one

Is it advisable to use form A? My school fees expires in 30 days

LAAMGlobal:
In pursuit of academic excellence in countries other than Nigeria, one may be faced with many issues. One of the toughest is this issue of paying full or part of one’s tuition/school fees from Nigeria here. 

Actually, there are many ways to pay your school fees to your school abroad while in Nigeria. Most students whose schools are in Austria, the USA, UK, Ireland, China, India, Canada, Europe, Australia, and so on would likely be paying their tuition in foreign currencies. Paying with the Central Bank rate makes it less expensive than when paid with other payment methods.

HOW TO PAY YOUR SCHOOL FEE WITH CENTRAL BANK RATE

Through the Use of CBN e-Form “A” Website (www.tradesystem.gov.ng)

This method is enabled by CBN and commercial banks. The CBN allocates and disburses a certain volume of foreign currency to all banks, and other approved institutions weekly. Then they are instructed to sell the foreign currency at authorized prices to Nigerians who genuinely need it.

You only qualify to use this method if:

You’re paying for school fees abroadYou’re a Nigerian paying for training abroadYou have an unconditional admission letter from the institution abroad

Tuition fees limit is $15,000 per semester and Upkeep fees limit is $5,000 per semester.

This is how to pay school fees through the new CBN website:

Step-by-step guide on how to pay your school fees abroad with e-form A using CBN Website (www.tradesystem.gov.ng):

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 PortalRegister with your BVN (individual) or TIN (organization)An OTP will be sent to your registered email.Verify your emailLogin and choose Educational FeesFill the necessary fieldsUpload the required documentsSubmit

Note: Once you submit, a prompt is sent to your preferred bank who reviews the transaction and processes it further. This process is subject to the bank’s availability of FX.

List of documents required to process the school fees payment abroad through Form A:

Making this list here is very important to ensure that you carry the correct documents to the bank. Here is the list below:

Your valid international passportAdmission letterInvoice from the school abroad containing the school account/IBAN numberWAEC 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.

The only downside about this method of paying school fees abroad using CBN Form A is that the processing time is highly subject to the bank’s FX situation. Typically, payment of school fees to your school abroad is around 1-2 weeks.

Follow our blog to learn more on studying abroad!

Sammmypoko:
Is it advisable to use form A? My school fees expires in 30 days

Using form A would have been ideal but considering that Nigerian commercial banks may fail you due to FX unavailability, it's best you use a payment agent, like Pay4me.

Alternatively you can reach out to nairalanders who process international fees, but that comes with its risks