5 Things to Know this Week

Brangelina is officially married. (Sydney Morning Herald) You already knew that? Bet you haven't seen the 'paparazzi shots' (Daily Mail)

Brangelina wedding

Emoji is so July. Imoji (personalised emojis with your own face!) is the way to go. Better yet? It's free!

With the incessant rain and cold (as in runny rose cold) season around, be sure to eat healthy to keep your immune system up. Here are 10 Tips for Eating Healthy on a Budget. (And to save money, use NexPay, of course!)

What does your handwriting say about you? Because it's very important to know. (StumbleUpon)

Currency is King

New Student Payments System Offers Lower Exchange Rates and No Bank Fees.

Sydney, August 19, 2014– With Australia’s $16b education marketplace looking to grow over the next few years, NexPay has responded to a problem surrounding international students’ payments.

“Basically, both the international students and the local universities, schools and their agents are paying high rates for a mediocre service” says Paul Stokes, Head of Business Development at NexPay.

Stokes adds:- “When an overseas student is asked to make a payment to a local school, they unwittingly pay a higher exchange rate along with other fees for their foreign exchange transaction which can add another $1000 on top of their tuition fee on a $20,000 payment. Then, when the money eventually arrives, the local institution pays a bank charge of anywhere up to $25 per transaction. We think that’s wrong.”

NexPay provides a service where the student is quoted a much fairer rate. They are advised of an amount to pay in their own currency and the rate is fixed for 72 hours.

When the student makes the payment, NexPay guarantees the transfer is completed in just 48 hours. The receiving institution gets the full amount from NexPay – no bank fees – plus they receive a full reconciliation report showing which payment is for which student.

Go Study Australia is an education agency recruiting more than 3,500 international students per year for Australian institutions, providing students with a one-stop-shop service and institutions with a marketing reach in Europe.

Go Study’s Managing Director, Gavin Dowling comments, "Since using NexPay we have not paid any bank fees or had problems with short or missing payments. In the past, international payments were a challenge to reconcile. NexPay solved that problem and our students also get great savings on foreign exchange. NexPay provides us with a simple and easy process that we can rely on."

About NexPay

NexPay is an innovative payment services company that offers real value to the education sector. Students will save on their international tuition. Agents will be able to easily manage all their student payments. And both Educational institutions and Accommodation providers can reduce the costs associated with international transactions.

Established in 2011, NexPay is on a mission to make international student payments fair, simple and secure.

For more information, visit https://nexpay.com.au

Overseas student numbers rebound

After a 5-year slump, Australia's fourth largest export sector grew 11.5% with 422,000 enrolments in the past financial year. This pickup has been predicted by Chaney, a businessman who prepared setting out a five-year strategy for the education sector - which has yet to be addressed by the current government.

Michael Chaney

Unlike international tourism, international education does not have a dedicated minister or coordinating body overseeing the sector. As competitor nations such as Canada and the United States beef up their strategies to acquire more international students, Australia has to remain on its toes to remain relevant to the international education industry.

Chaney has made a number of recommendations to strengthen the international education sector in Australia, namely -

• a new body to take responsibility for promotion and marketing
• national regulation to maintain quality
• create a positive student experience
• encourage Australian institutions and government to form partnerships locally and globally
• ensuring integrity in Australia's student visa program
• continually promote and market Australia as a supplier of high quality education

The International Education Advisory Council has estimated that there will be a 30% increase on international student enrolments in Australia. As education providers await the government response to the Chaney report, certain education agents have begun preparing for the influx of students by turning to services such as NexPay to assist them in keeping track of their payment receipts easily.

To learn more about NexPay, go to www.nexpay.com.au

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Source: The Australian

How International Students Impact Australia

International students are a huge part of the Australian economy, bringing in approximately $13 billion worth of revenue to the Australian economy in 2012.

How much money international students add to the Australian economy

Apart from direct revenue such as university fees, which cost up to 3 times more for international students compared to their domestic counterparts, international students drive secondary industries such as housing, food, private tutors and entertainment. Tourism also enjoys a boost from the international students themselves and visiting friends and family, especially at the start of semesters and graduation season.

Tourism is one of the industries which benefits from international education.

Australia offers world-class education in a safe environment - though this has been marred by news of exploitation by employers, dodgy landlords and cases of racism on public transport. Still, students still gravitate to the Australian lifestyle and international enrolments have been increasing.

Australia offers benefits to international students such as work rights (40 hours per fortnight when classes are in session), post-study work rights and pathways to permanent residency for skilled students.

However, Australia should not rest on its laurels. Australia faces stiff competition from other education destinations such as neighbour New Zealand, Canada and the UK. Up and coming countries like China have even leapfrogged Australia to become the world's third biggest destination for higher education students. China, with its comparably cheaper cost of studying, is now a major player in the international education industry.

China is becoming increasingly popular as an international education destination.

To remain competitive, Australia will need to appreciate the industry of international education, and draft policies to protect the international students' rights in terms of housing and work.

Education providers will have to innovate to keep up with the competition, and one way to do it is by adapting new technologies such as automated international student payments processing, which NexPay offers. Visit www.nexpay.com.au to learn how NexPay can help you save!

Sources: The Australian, Australian Education International, The Conversation 

Changes at NexPay: the future of international student payments

For agents and education providers, it is all too easy to feel overwhelmed by the daily rush of inquiries and administration, especially for international student payments.

But what if there is an easier way to streamline your student payment process? What if there was a way to manage all student payments? A platform to see all your student payments? What if this service also benefits your students by offering them favourable exchange rates thus reducing their cost of tuition?

NexPay is committed to making international student payments simple and easy. By understanding your needs and customising our payments system to fit into your environment, NexPay helps agents and education providers automate a complex payment process.

Instead of processing single payments and attempting to match amounts to students, agents and education providers can enjoy the ease of receiving one payment report every day, with complete reconciliation so it is clear from a single glance which students have paid what amount.

Processing student payments doesn't have to be painful

Another headache associated with attempting to reconcile bank fees is the fact that the amounts invoiced and the amounts received are different, as banks usually scrape off bank fees and commission before depositing the payment into your account. With NexPay, agents and education providers will receive full amounts, as we do not charge bank fees.

Our exclusive network also ensures that we offer lower exchange rates to your students so you can price your courses competitively.

And the good news is that NexPay is about to get better!

Rejoice!

We're adding more currencies to our network of currencies which cover more than 130 countries globally, so more students and agents can enjoy savings with NexPay.

Credit card facilities are also in the works, so agents and education providers can avoid merchant fees, as well as receiving daily reconciled reports of payments from students who are paying via this method.

Also we're building multi-lingual services to make NexPay more accessible to students and agents.

So if you're ready to learn more about how to make your international student payment process simple and easy, visit us at www.nexpay.com.au and contact us (contact details on right) to organise a chat!

NexPay complies with Anti Money Laundering legislation and offer 24-hour online assistance should you have any queries.

5 Things to Know

If you're running City2Surf - or any other physical event, these diet tweaks will help you improve your performance. (Good Food)

Melbourne Career Expo 2014 will be on 15 - 17 August 2014 at the Melbourne Convention and Exhibition Centre. Tickets are free but going quickly.

17 Maps that will change how you see the world. (Time)

Yes, you never knew you needed to see the world like this.

Ever wanted to party at Sydney Aquarium? Keep these dates in mind then - September 11, October 30, November 13 - when the Aquarium will host Hijinks parties complete with treasure hunt, tattoo designs and drinks. Sounds like fun! (Sydney Morning Herald)

Melbourne Living Guide

Question: Which university has the highest number of international students?

Answer: The University of Melbourne!

To welcome all our new friends from abroad to Australia's Culture State, NexPay presents the Melbourne Living Guide -

Climate

This just about sums up the predictability of Melbourne's weather - none whatsoever. Always check weather forecasts and bring a jacket with you. In summer it can hit 40 degrees Celsius during the day and drop to 12 degrees come nighttime.

Humidity in Melbourne is not very high, so use a good moisturiser.

Currency

The national currency is the Australian Dollar (AUD). The listed price is the amount payable, unlike countries such as the United States, where tax needs to be added to the listed price.

For everyday retail, cash and debit cards are the most common payment methods international students use. (PIN is mandatory for debit/credit cards. If you can't remember your PIN and your purchase is under $100, you may opt to use PayPass or PayWave.)

For bigger bills such as university fees, international students may pay through services such as NexPay to enjoy savings on foreign exchange.

Cost of Living

An international student would require around $14,000 - $18,000 per year to live in Melbourne (iStudent), and this amount varies widely. You may want to live it up like the new wave of Chinese students, or you may be on a thriftier budget.

Bear in mind that the first few weeks in Australia will be more expensive, as you spend money on one-off expenses such as rental bonds, temporary accommodation, books and furnishings. (A rental bond is a deposit which you pay when you rent accommodation. It will be returned in full when you move out,  as long as you didn't thrash your room and/or apartment.)

Public Transport

Yes, the above picture is a truthful depiction of a Melbourne tram - it really does look this fabulous. The City Circle loops around Melbourne CBD for free, and will be useful to familiarise yourself with the city layout - or just to score free rides! Yay!

Melbourne has an integrated transport system which runs on one card - Myki. Myki can be used on trains, trams and buses, and can be easily bought and reloaded at retailers like 7-Eleven.

Driving

If you prefer being in the driver's seat, international student visa holders may drive in Melbourne, provided you have a
1. current driver's license either in English or accompanied with an English translation, OR
2. International Driver's License

To apply for a Victorian Driver's License, visit VicRoads for more details.

Happy studying in Melbourne, and remember to follow us for more international student news!

Source: The Australian, iStudent

Australian Universities' Pricing Dilemma

As student recruitment season rolls around again, Australian universities are presented with a unique challenge as they attempt to communicate the prices of their courses to potential students, with the uncertainty of government funding cuts and fees deregulation making it difficult for universities to develop new pricing strategies in response.

Some universities have opted to insulate 2014 mid year intakes from the deregulation of university fees but Universities Australia Chief Executive Belinda Robinson has expressed concern that extending this method to all 2015 students is not feasible at an estimate cost of $850m if the universities absorb the financial impact of the 20% funding cut by the government.

Robinson has repeatedly called for the government to apply the new deregulated fee system only on students commencing studies in 2016 and beyond so universities will have adequate time to establish new pricing strategies and ensure students are fully informed.

Formal legislation announcements regarding the higher education budget is expected on 26 August, at the earliest.

Although higher education funding cuts have not been well-received, some universities are in favour of fee deregulation, which will allow universities to have more say over the number of students accepted into the university and the type of degrees offered.

In this time of unprecedented change, universities will have to think outside the box and contemplate new ways to maintain the quality of education whilst running on a reduced budget. Luckily there are new products in the market which wasn't there before, such as customised payment solutions. Customised payment solutions are one of the newer products which are able to simplify payment processes and help universities save on administration costs, all at no additional expense to the universities.

As the higher education sector enters uncharted territories, innovative solutions might be the ultimate aide in its journey.

Source: The Australian

Follow The NexPay Blog for updates on Australian student life and higher education news.

5 Things to Know This Week

Australia may be seeing an influx of Brazilian students as part of the Science Without Borders scholarship program. (The Australian)

$A hits two-month low. If you're thinking of studying in Australia, now is the time! (Sydney Morning Herald)

If women had their own currency, here's what it would be worth. (Time)

What's cooler than Instagram? This new social media platform. (Refinery29)

Looking for love? Flirt Academy is running a workshop TONIGHT. (Flirt Academy)