News from the Wire

Student Loans Company chooses Flywire to provide additional repayment options to customers living overseas

Thursday, June 20, 2019 — 14:21:23 (EDT)

Boston and London, Thursday June 20th, 2019 – Student Loans Company (SLC) has partnered with Flywire to provide additional repayment options for customers living overseas.

The new service went live at the start of June and since launch, SLC has received payments via Flywire from over 40 different countries, including Australia, Canada, Chile, Finland, France, Kuwait, Mexico, Romania, South Africa, Spain and the United States

With Flywire, customers can access an online portal to set up and make repayments directly to SLC through its global payment network. The system allows customers to track the progress and status of their repayments, taking away the need for customers to contact SLC to check the progress of their payment. The system updates regularly which means that SLC is processing the most up to date repayment information and can see live activity from customers.

Flywire also offers around-the-clock, multi-lingual, online global support, making it more accessible for customers outside of the UK.

Steven Darling, SLC’s Director, Repayment and Counter Fraud Strategy, said: “We are always looking for innovative ways to make it as easy as possible for customers to meet their student loan obligations. The introduction of Flywire, alongside existing repayment options, gives our customers living overseas greater choice when repaying their loans.

“Our customers need to let us know if they move abroad for more than three months and should always keep their contact information up to date.”

Mike Massaro, CEO of Flywire, said: “Our partnership with SLC makes cross-border payments more accessible, enabling customers to repay their student loan using the currency or payment methods that are most easily available to them, wherever they live. We are pleased to be working alongside SLC to provide additional repayment options that help address customer needs worldwide.”

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For further information, please contact the Student Loans Company press office on 0141 306 2120 / press_office@slc.co.uk or CCgroup for Flywire in the UK, Wilfred Collins on 0203 824 9205 / Flywire@ccgrouppr.com.

Notes to Editors:

The Student Loans Company:

· Administers student finance on behalf of the Government and the Devolved Administrations of Wales, Scotland and Northern Ireland

· Has 8.6m customers and manages a loan book in excess of £117bn

· Processes almost 2m applications for student finance every year

· Paid out £8.6bn in loans and grants to new and existing students, as well as £9.6bn in tuition fees to higher and further education providers in the last year

· Employs over 3,300 staff across our sites in Glasgow, Darlington and Llandudno Junction

About Flywire

Flywire solves complex payment problems for businesses and institutions to empower new opportunities globally and locally. The company processes billions in payments per year, connecting all the entities involved to make those transactions faster, more secure, less expensive, and more transparent. Clients in business, education and healthcare use Flywire’s full-service platform to tailor the payment experience for their customers and to create a single point of visibility and control for payer engagement and receivables management – from invoicing and payment through reconciliation. Flywire also supports its clients with end-to-end customer support including multilingual servicing via phone, email, and chat, as well as around-the-clock online payment tracking. The company is headquartered in Boston and has offices in Chicago, London and Manchester (UK), Valencia (Spain), Shanghai, Singapore, Tokyo, Cluj (Romania), and Sydney. Key investors include Bain Capital, F-Prime Capital (Fidelity), Spark Capital and Temasek. For more information, visit www.Flywire.com.

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Source: Company press release.