Improving Financial Experiences in the UK for Domestic and International Students

While every student’s academic journey is unique, one constant remains across all demographics and geographies: finances play a central role in shaping that experience. The 2025 Student Financial Experience Report breaks down a variety of key financial insights gathered to help improve the student experience, including expectations and behaviors across global student populations.

Tech and tuition go hand in hand

When asked in which areas technology could improve student related services, 44% of UK students said technology improvements to the tuition and financial aid processes would be the most impactful way to enhance their overall experience. That figure rises to 51% and 52% in Australia and Canada, respectively. Across borders, students are calling for digital-first solutions that make financial interactions simpler and more efficient.

Interestingly, students in the US place a greater emphasis on improved course registration systems rather than financial processes. So if the payment experience is less of an issue for US students, what lessons can the UK and other regions take from the US models? The answer may be in a simplified, student-centric commerce strategy.

Flexible payment options support retention

Many students attending university in the UK undertake part-time jobs to help manage the rising costs of higher ed and living. Offering students a way to pay for their tuition in smaller payments over time is a great way to relieve some of the pressure. By giving students the option to pay more manageable, monthly installments, universities can make higher education more accessible, help students (and their families) budget effectively and encourage continued enrolment. It can also help reduce the need for student loans. It’s as great for retention as it is for recruiting.

Streamlining systems benefit students and staff

Improving the student financial experience isn’t solely about enhancing the user interface, it’s also a matter of operational efficiency. The tech needs to work for the staff too. It’s important to have a payments solution that is integrated with the Student Information System and enables staff to access real-time views of the student account and financial activity. Think of it like a single source of truth that helps staff easily view, manage and keep track of payments; resulting in fewer reconciliation errors, more responsive and informed support teams, and faster resolution of student enquiries.

Don’t just take our word for it, institutions such as the Canberra Institute of Technology modernised their payment experience, and the College of Charleston implemented a unified payments platform to improve the staff experience, and close the gap between administrative processes and student services.

Seamless acceptance of key payment types

Let’s take a look at where the money comes from to cover tuition fees.

2025 Student Financial Experience Report

As you can see, there’s a markedly higher number of international students in the UK who rely on direct support from their families in order to make their tuition payments work. This brings up a core issue — is each institution able to accept the types of payment methods their students need, and can they do it seamlessly?

Tuition payment friction is a big roadblock no matter your country of origin, but with the UK having such a key international demographic using family support and personal payments, it’s important to be aligned on how they pay for everyday items and support frictionless payments. With multiple currencies, payers and alternative payment methods, it’s a lot to keep track of.

The TouchNet approach to international payments

Through our partnerships with TransferMate and Convera, TouchNet simplifies and secures the international payment process and allows institutions to:

• Reduce costs
• Improve reconciliation and reporting accuracy
• Enhance security and compliance
• Access real-time data
• Offer more choice to students

The heavy burden of keeping up

The report also shows that up to 69% of international students say financial-related interactions at their institutions positively impact their academic success. However, the same international students are more likely to describe those interactions as high effort. Students trying to achieve higher education have enough on their plates, and adding extra effort when it comes to finances can be detrimental. This presents a clear opportunity for universities to minimise financial complexity and enable students to focus on learning and achievement.

Making the right choice

One of the report’s most striking findings is that 100% of surveyed international students reported that they knew the payment methods and providers associated with their institution before enrolling. Additionally, 70% of those students also reported that these factors directly influenced their choice of where to attend. It’s an incredibly powerful insight that tells us that payment methods are a key consideration for international students and they really care about how payments are made.

Download the report

There’s a lot more that can be learned. For more powerful insights, take a deeper dive into the 2025 Student Financial Experience Report. Download the full report to explore how your institution can better support students, drive operational efficiency, and future-proof your financial systems.