Before exploring the mechanics of sending money, it is important to understand what St. Martinus University actually accepts. The university’s [tuition page](https://martinus.edu/tuition/) lists the following payment methods: Cash, Check, Cashier’s Check, Wire Transfer, and Credit Card. Each method carries different fees, processing times, and regulatory requirements. For example, credit card payments incur a 5% administrative fee, which adds significantly to large tuition installments. Per-semester tuition at SMU ranges from $5,400 for Pre-Medical through $7,200 for Basic Sciences up to $9,900 for Clinical Sciences, plus a $1,000 health insurance cost and $500 residency permit per year.
More importantly, SMU includes a critical warning on its tuition page: “St. Martinus University does not authorize any individual or organization to collect any fees, donations, or payments on behalf of the University in any country. The University shall not be responsible for any monies paid in India or elsewhere to unauthorized persons.” This warning aligns with the advisory from the [National Medical Commission (NMC)](https://www.nmc.org.in/information-desk/for-students-to-study-in-abroad/), which advises students and parents to confirm fee structures and payment details directly with the institution. The message is clear: all payments must go through official, traceable channels.
## RBI Liberalised Remittance Scheme: How Much Can Parents Send Per Year?
Under the RBI Liberalised Remittance Scheme (LRS), each resident Indian individual can remit up to USD 250,000 per financial year for permitted purposes, including education. According to [ClearTax](https://cleartax.in/s/what-is-liberalised-remittance-scheme), the LRS limit covers “Education, travel, medical treatment, gifts, overseas investments, maintenance of relatives and purchase of overseas property.” This limit has remained stable through 2026-27, and the [iAMBBS financial planning guide](https://www.iambbs.com/mbbs-abroad-financial-planning) notes that both parents can remit separately, giving a family access to roughly USD 500,000 per financial year.
For families paying MBBS abroad tuition, this ceiling is usually sufficient. A full academic year at St. Martinus University, including tuition and mandatory fees, falls well within the per-person limit. However, it is equally important to remember that NRIs, PIOs, and OCIs cannot remit funds under LRS; they must use their overseas bank accounts instead.
## TCS on Education Remittances: The 2% Tax You Need to Budget (and When It Is Zero)
When remitting money for education, parents must also account for Tax Collected at Source (TCS). Currently, a 2% TCS applies to education remittances exceeding INR 10 lakh per financial year. If the total amount remitted stays below that threshold, the TCS rate is 0%. Importantly, if the remittance is funded by an education loan under Section 80E, the TCS is also 0%, regardless of the amount. This is why it helps to explore [MBBS financial aid and education loans](https://martinus.edu/financial-aid/) before committing to out-of-pocket payments.
TCS is not an extra tax; it is collected upfront and can be claimed as a credit or refunded when filing income tax returns. Parents should therefore budget for the 2% component on large tuition payments and keep records of the TCS certificate issued by the bank. These details are part of responsible financial planning for MBBS abroad for Indian students.
## Wire Transfer vs. Forex Card vs. Authorised Forex Dealer: Which Is Cheapest for Tuition Fees?
Choosing the right transfer method depends on the purpose: paying large semester fees versus covering day-to-day living expenses. The [iAMBBS financial planning guide](https://www.iambbs.com/mbbs-abroad-financial-planning) outlines a clear comparison of the three most common options.
**Bank SWIFT wire transfer** is the standard method for large tuition payments. Banks apply an exchange rate markup plus a fixed fee, making it the costliest option for large amounts. However, it is universally accepted by universities and traceable, which is essential for compliance and audit purposes.
**Authorised forex dealer or remittance service** provides better exchange rates and lower fees than retail banks for large tuition payments. An authorised forex dealer is often the most economical choice, provided the provider is RBI-authorised and transparent about charges.
**Forex or multi-currency card** lets parents load funds at current exchange rates. The card incurs a loading fee and may charge ATM or usage fees. It is best suited for students’ day-to-day living expenses abroad rather than lump-sum tuition payments, because spending limits and reload delays can complicate large disbursements.
## Step-by-Step: Sending Your First Tuition Payment Through the Bank (Form A2, PAN, Timeline)
For parents making their first LRS remittance for MBBS abroad fees, the bank process is straightforward if the documentation is ready. The [ICICI Bank LRS guide](https://www.icici.bank.in/nri-banking/nriedge/nri-articles/lrs-for-sending-money-abroad-from-india) outlines the typical sequence:
1. Visit your bank branch or use net banking to initiate an outward remittance under LRS.
2. Complete Form A2, which declares the purpose of the remittance as “education” and provides beneficiary details.
3. Submit your Permanent Account Number (PAN) card; the bank uses it for TCS calculation and RBI reporting.
4. Provide KYC documents: Aadhaar, passport, and student admission letter from the university.
5. The bank converts the amount at its current exchange rate and deducts fees plus applicable TCS before debiting your account.
6. The bank sends the funds via SWIFT to St. Martinus University’s designated account. International wire transfers typically take 2 to 5 business days.
It is advisable to initiate the payment well before the deadline stated in your Conditional Offer Letter to account for weekends, holidays, and bank processing delays. If you have not yet submitted an application, review the [MBBS application process for Indian students](https://martinus.edu/application-process/) to understand the full timeline from application through offer letter and payment.
## What NOT to Do: Why Paying Through an Agent Can Lose You Money
One of the most common and dangerous mistakes parents make is paying fees through an informal agent or a local intermediary in India. Agents often promise convenience, faster processing, or special university relationships. In reality, they bypass the official banking and forex channels, exposing families to multiple risks.
The payment may never reach the university, as SMU explicitly does not authorize third-party collections in India. Parents lose traceability, making it difficult or impossible to recover funds if the agent defaults. The transaction may violate FEMA rules, triggering penalties or scrutiny from the RBI. Exchange rate markups and hidden fees charged by agents often exceed what an authorised bank or forex dealer would charge.
The safest path is always the official one: use LRS through a bank or an RBI-authorised forex dealer, and retain all transaction records.
## Parent’s Quick-Reference Table: Payment Methods, Fees, and Best Use Case
| Payment Method | Typical Fees | Best For | Key Consideration |
|—|—|—|—|
| Bank SWIFT wire transfer | Exchange markup plus fixed fee | Large semester tuition | Universally accepted by SMU; slowest but most traceable |
| Authorised forex dealer | Lower markup than bank | Large tuition payments | Must be RBI-authorised; best value for high amounts |
| Forex or multi-currency card | Loading fee plus ATM or usage charges | Student living expenses abroad | Best for day-to-day spending; avoid large tuition loads |
| Credit card | 5% administrative fee | Small emergency payments | SMU accepts, but 5% fee makes it expensive for tuition |
Paying for MBBS abroad is a major financial commitment, and understanding the legal channels protects both your budget and your child’s admission. If you have questions about the process or need guidance on next steps, request information from the St. Martinus University admissions team or contact admissions directly. They can clarify the exact payment instructions included in your offer letter and help you plan a smooth, compliant transfer. For a comparison of tuition costs across countries where MBBS abroad is popular, see [MBBS abroad tuition fees by country 2026-27](https://martinus.edu/mbbs-abroad-tuition-fees-by-country-2026-27/). And if your family needs to arrange a visa, the [Curaçao student visa information for Indian families](https://martinus.edu/visa-information/) page covers the documentation requirements, including bank letters showing the required balance.