Direct-to-school digital payment experience developed by Flywire and Ascensus offers an intuitive user experience that improves how families access their education savings
With six additional plans signed on in 2024, more than 40 Ascensus-administered 529 plans can leverage Flywire’s digital disbursement technology
BOSTON and DRESHER, Pa., March 10, 2025 (GLOBE NEWSWIRE) — Flywire Corporation (NASDAQ:FLYW) (Flywire), a global payments and enablement and software company, and Ascensus, a market-leading enabler of tax-advantaged savings, are pleased to announce that they delivered more than $2 billion in electronic 529 tuition payments directly to colleges and universities in the U.S. throughout 2024. The digital payment capability has expanded to over 750 institutions and is now accessible through more than 40 Ascensus-administered 529 savings programs, enabling more efficient tuition payments for plan participants. The success of their integration underscores Flywire’s and Ascensus’ commitment to making paying for college more affordable and accessible for families across the country.
Through Flywire’s partnership with Ascensus, families saving in a participating 529 plan on the Ascensus platform can leverage Flywire to electronically disburse funds to pay tuition-related expenses directly to the school from their 529 account. The partnership, which eliminated more than 200,000 paper checks in 2024, replaces the manual, inefficient process of handling 529 payments via paper checks with a fully digital payment and reconciliation system, reducing delays for students and administrative backlogs for schools. Integrating directly into an institution’s student database, Flywire also makes it simple and easy for any school in the U.S. to benefit from the ease of reconciliation and other operational efficiencies of the 529 disbursement solution, regardless of whether they are existing Flywire clients or not.
“We recently implemented the 529 payment solution with Flywire, and that has been very beneficial to my office, the administrative staff, and students as well,” said Alyse Kwapien, Director of Cash Management & University Bursar, …
