Flywire Surpasses $320 Million in Past-Due Tuition Collected and 161,000+ Student Enrollments Saved at U.S. Higher Education Institutions
Flywire's Student Financial Software helps U.S. institutions boost enrollment and accelerate cash flow
Automated payment innovation fuels accelerated adoption of Flywire's Third-Party Invoicing and 529 Disbursement solutions
BOSTON, May 21, 2025 (GLOBE NEWSWIRE) -- Flywire Corporation (Flywire) (NASDAQ:FLYW) - a global payments enablement and software company - announced today that more than 100 colleges and universities in the United States that use Flywire's Student Financial Software (SFS) collected more than $320 million in past-due tuition to keep more than 161,000 at-risk students enrolled. These results are part of the ongoing commitment that Flywire is making to its higher education clients in the U.S. to help them accelerate revenue, while optimizing for student success.
Faced with mounting pressure to create more sustainable revenue streams, U.S. higher education institutions have adopted Flywire's SFS solution to better streamline the student journey and address education affordability by providing more dynamic payment plans and accelerating past-due collections to help retain students. The return on investment from Flywire's Collection Management offering of SFS is particularly strong, as it helps institutions avoid the costly process of sending students to collections, which typically charges on average 20% to collect past-due tuition owed. As one example, Purdue University - a Flywire client for cross-border tuition payments and digital 529 disbursements since 2021 - went live with Flywire's Collection Management offering of SFS in March of 2024 to automate communications and payment plans to collect more past-due tuition faster. Within months, Purdue saved more than 300 students from going to collections, and recovered more than $1 million in revenue that would otherwise have been written off.
"I can't imagine how much extra work we'd have to be doing if we were still doing collections the old way. It's kind of a lifesaver. Our write-offs will go down because of Flywire." - Chad Lester, Associate Bursar, Account Resolution and Loan Administration, Purdue University
Ongoing innovation also solves payment challenges around 529 disbursements and third-party payments
Flywire's U.S. clients have also begun adopting its third-party invoicing solution, which streamlines the payment experience for third-party sponsors paying a student's tuition and fees, as well as its 529 disbursements, which digitizes the otherwise manual process of 529 plan payment checks. Since the inception of its 529 solution, Flywire has digitized over $2 billion in tuition payments by eliminating the manual processing of more than 502,000 checks for institutions in the U.S., with more than 750 institutions in the U.S. signed on for the solution. This expansion of these payment capabilities demonstrates Flywire's commitment to addressing every aspect of the student payment journey, extending its expertise beyond cross-border transactions to deliver comprehensive payment solutions that help clients work smarter.
"When I first started with Flywire, they were just payments. Now they've put 529 solutions in, again a big problem in our university, all the checks. They've put in collections and now third-party invoicing. Everything they do makes our jobs easier." - Janet Hicks, Associate Controller, Student Accounting Services, University of South Florida
Strengthening partnerships to enhance capabilities for clients and embed deeper within broader education ecosystem
Flywire directly integrates with a number of leading technology providers, from large ERPs like Ellucian, to Admission and Enrollment Providers like CommonApp, and other software systems. Through these integrations, Flywire is helping institutions improve operational efficiency to ultimately provide better staff and student experiences.
To strengthen its footprint in the U.S., Flywire has recently partnered with some of the largest and most recognized education technology providers to provide:
- Tuition insurance through GradGuard to provide Flywire's higher education clients in the U.S. access to an integrated policy disclosure process that assures greater financial literacy of students and their families
- Streamlined payment experience through BlackBaud to provide international students enables a seamless payment experience, and help independent schools streamline incoming payments, including tuition and enrollment fees
- Digital delivery of student loan payments funded and managed by some of the largest banks and loan providers in India, including Credila and State Bank of India
- Strengthened international recruitment network of more than 20,000 key recruitment counselors such as IDP, KC Overseas and more to help institutes diversify their recruitment efforts and streamline enrollment from international students.
Resources
- Meet with Flywire at NAFSA 2025, May 26 - May 30, Booth #626 and join Flywire's sessions with NYU, IDP, ICEF, AIRC, INTO and GeNEOus to learn more about how Flywire is powering the global education ecosystem.
- To learn more about Flywire's solutions for the U.S. higher education industry, visit here
- The Flywire Fusion U.S. Education Client Conference & Awards Ceremony is taking place October 20-22 at the Lansdowne Resort in historic Leesburg, Virginia. Save your spot here.
About Flywire
Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.
Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.
Flywire supports more than 4,600 clients with diverse payment methods in more than 140 currencies across more than 240 countries and territories around the world. The company is headquartered in Boston, MA, USA with global offices. For more information, visit www.flywire.com. Follow Flywire on X , LinkedIn and Facebook.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire's expectations regarding the benefits of its education clients and business, Flywire's business strategy and plans, market growth and trends. Flywire intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "intend," "could," "would," "project," "target," "plan," "expect," or the negative of these terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire's forward-looking statements include, among others, the factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Flywire's Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which are on file with the Securities and Exchange Commission (SEC) and available on the SEC's website at https://www.sec.gov/. The information in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
Contacts
Media:
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Investor Relations:
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