Penn State University Selects Flywire to Power Tuition Management Processes for 100,000+ Students
Rhea-AI Summary
Flywire (Nasdaq: FLYW) was chosen by Penn State University to deploy its full Student Financial Software across a university of more than 100,000 students. The scope includes e-billing, payment plans, past-due collections, eRefunds, 1098-T presentment and Third-Party Invoicing, integrated with PeopleSoft SIS.
Flywire has supported Penn State’s international tuition flows for 10+ years and went live with Collections in May 2023; the broader rollout targets summer tuition schedules.
AI-generated analysis. Not financial advice.
Positive
- Contract covers >100,000 students at Penn State
- Full Student Financial Software suite to be implemented
- Direct PeopleSoft SIS integration automates reconciliation
- Existing relationship: Flywire used for >10 years internationally
- Collection Management already live since May 2023
Negative
- None.
News Market Reaction – FLYW
On the day this news was published, FLYW gained 0.74%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Pre-news, FLYW was down 1.24% with light volume, while only one peer in momentum (PRGS) showed an up move of about 4.07%. Other listed peers had mixed, smaller moves, suggesting this Penn State win is company-specific rather than part of a sector-wide shift.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 22 | Client partnership | Positive | +1.0% | Three-year KnowBe4 deal adding global invoice-to-cash and payments volume. |
| Apr 20 | Earnings timing | Neutral | -0.5% | Announcement of Q1 2026 earnings release and conference call schedule. |
| Mar 26 | Board change | Positive | -2.9% | Appointment of experienced former Bank of America executive to board and Audit Committee. |
| Mar 05 | Product & clients | Positive | +3.4% | UK higher-ed conference highlighting SFS adoption and efficiency improvements. |
| Feb 25 | Investor outreach | Neutral | +11.4% | Participation in Raymond James and Morgan Stanley investor conferences. |
Recent partnership and product news have often seen positive or modestly positive next-day moves, while governance and board changes have produced more mixed reactions.
Over the last few months, Flywire has highlighted steady commercial and strategic progress. On Feb 25, 2026, it announced attendance at major investor conferences, followed by a strong 11.39% move. Its U.K. higher-education conference on Mar 3–4, 2026 showcased Student Financial Software gains and drove a 3.35% rise. A KnowBe4 agreement on Apr 22, 2026 added millions in annual payment volume. Today’s Penn State expansion fits this pattern of growing institutional adoption in education.
Market Pulse Summary
This announcement highlights Flywire deepening its role at Penn State, expanding from international tuition to managing all tuition payments for over 100,000 students. It underscores broader adoption of Student Financial Software, including billing, payment plans and collections. In recent months, Flywire has emphasized similar higher-education and enterprise wins. Investors may watch how this implementation progresses, how it influences education transaction volumes, and how management discusses such wins on upcoming earnings calls.
Key Terms
request for proposal (rfp) financial
student information system (sis) technical
e-bill presentment technical
payment plans financial
erefunds financial
1098-t financial
third-party invoicing financial
AI-generated analysis. Not financial advice.
A longtime international payments client, Penn State expands with Flywire to adopt the full suite of Flywire Student Financial Software to manage billing, payment plans, past-due collections and more
BOSTON, April 29, 2026 (GLOBE NEWSWIRE) -- Today, The Pennsylvania State University (Penn State), a top-ranked public research university with more than 100,000 students, announced it has selected Flywire Corporation (Flywire) (Nasdaq: FLYW), a global payments enablement and software company, to manage all tuition payments.
Flywire was selected in an RFP process as a key partner in modernizing Penn State’s internal operations. The project, aimed at targeting areas to better serve students and practice effective and efficient fiscal stewardship, is part of the institution’s multi-pronged Strategic Plan to continue to elevate Penn State as a world-class public university.
Penn State has used Flywire for more than a decade to collect tuition payments from international students, offering capabilities across 140+ countries and 240+ different currencies. High confidence in Flywire’s payment platform led it to seek out Flywire as a more innovative option for handling domestic tuition payments and processes, integrated with its PeopleSoft Student Information System (SIS).
“There is real value for students and the staff in modernizing the way we handle tuition processes,” said Carolyn Saona, University Bursar at Penn State University. “Flywire has been a visionary partner for us in solving complex tuition-related payment flows, and we believe there will be strong ROI as we expand our partnership.”
Penn State plans to implement the entire suite of Flywire’s Student Financial Software to manage tuition payments. This includes e-bill presentment, payment plans, past-due tuition management, eRefunds and 1098-T presentment. Penn State is also expected to leverage Flywire’s Third-Party Invoicing solution to manage billing and payments from third-party sponsors.
“Penn State is taking a thoughtful and leading look at the student experience, and we’re excited to be a part of modernizing the financial journey,” said David King, Flywire’s Chief Product Officer and Co-President of Global Education. “In this current operating environment, institutions know that modernizing the student journey is a big step toward industry-leading fiscal stewardship. And they know that using the same old systems and approaches will not get them there.”
Flywire’s Co-President of Global Education Sharon Butler agreed, saying: "This is exactly the type of momentum we're seeing. Customers who trust us with their most complex international flows are now eager to let us modernize the entire student and staff payment experience."
Penn State went live with Flywire’s Collection Management component of SFS in May 2023 to automate processes around past-due tuition management – reframing collections as a tool for retention. Direct integration with Penn State’s PeopleSoft Student Information System (SIS) automates reconciliation and ensures data accuracy across the student journey. Students can access Flywire directly in their student portal.
In line with summer tuition schedules, Penn State plans to launch the following functionality:
- Electronic bill presentment: Balances are up-to-date and inclusive of anticipated financial aid. Due dates are clear and notifications are automated, including to all authorized users.
- Payment plans: Payment plans rebalance in real time, allowing students to pay their tuition in installments over four months in the fall and spring, and three months in the summer.
- eRefunds and 1098-T presentment: Implementation of Flywire functionality for electronic refunds for student balances and 1098-T presentment alongside student account details streamlines compliance and ensures the institution can maintain exceptional levels of student self-service.
- Third-Party Invoicing: A specialized platform for sponsored billing, allowing the University to invoice third-party sponsors, such as companies, government organizations and more, and for sponsors to pay directly through Flywire. Students and staff have visibility into sponsor payments, securing enrollments and assuring high retention numbers.
Resources
- Learn more about Flywire’s Student Financial Software.
- Explore Penn State’s new billing portal updates.
About Flywire
Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.
Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare, and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.
Flywire supports approximately 5,000** clients with diverse payment methods in more than 140 currencies across more than 240 countries and territories around the world. Flywire is headquartered in Boston, MA, USA, with global offices. For more information, visit www.flywire.com. Follow Flywire on X (formerly known as Twitter), LinkedIn and Facebook.
**Excludes clients from Flywire’s Invoiced and Sertifi acquisitions
About Penn State University
The Pennsylvania State University is a world-class, multi-campus, land-grant, public research university that educates students from around the world and supports individuals and communities through integrated programs of teaching, research, and service.
Media Contact
Sarah King
Investor Relations Contact
Masha Kahn
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire's education business, expectations and plans, market growth and trends. Flywire intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "intend," "could," "would," "project," "target," "plan," "expect," or the negative of these terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire's forward-looking statements include, among others, the factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Flywire's Annual Report on Form 10-K for the year ended December 31, 2025, which is on file with the Securities and Exchange Commission (SEC) and available on the SEC's website at https://www.sec.gov/. Additional factors may be described in those sections of Flywire’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, expected to be filed in the second quarter of 2026. The information in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
