The currency tuition rate for foreign students in Iran has been determined based on the new resolution of the Cabinet. According to this resolution, the foreign currency received from foreign students will be calculated at the selling rate of foreign exchange notes at the exchange center, and its Rial equivalent will be deposited into the dedicated revenue accounts of universities and educational institutions.
New Mechanism for Receiving Tuition Fees
Selected banks of the Central Bank are required to receive the foreign currency from foreign students and other visitors introduced by universities and educational institutions, and to deposit it daily into the dedicated foreign currency accounts of these centers at the Central Bank. This action will help universities manage foreign currency funds quickly and effectively.
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The Central Bank must also calculate these funds based on the selling rate of foreign exchange notes at the exchange center and deposit them into the dedicated revenue accounts of educational centers according to the schedule announced by the General Treasury of the country. These new changes will enable universities to manage the received tuition fees with better planning.
New Rates and Their Impact on Tuition Fees
According to the rates announced in the report, the selling price of each dollar at the exchange center is 180,550 Tomans and each Euro is about 202,000 Tomans. This rate serves as the basis for converting the universities' foreign currency funds into Rials. However, it should be noted that the tuition amount varies based on the university, field of study, and educational level, and does not imply that all foreign students have the same tuition fees.
For example, the annual tuition fee ranging from $3,000 to $7,000 at the announced dollar rate will be equivalent to 541 million to 1 billion 264 million Tomans. These figures are merely sample calculations, and the exact tuition amount for each field should be obtained from the respective university. Additionally, changes in the exchange center rate will alter the Rial equivalent of foreign currency funds.
Since 2001, universities and higher education institutions have been allowed to accept foreign students and charge tuition fees to cover part of their costs based on the law regulating certain financial regulations of the government. The new resolution establishes the mechanism for receiving, consolidating, and converting these foreign currency funds, which can help facilitate the study process for foreign students in Iran.
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