Paying For Tuition
Last updated
Last updated
International students might face difficulties opening bank accounts in their new countries; they can find a ramp that enables them to convert their tFIAT tokens into FIAT and transfer it to their educational institution.
Here is a step by step guide.
Click on the Country tag to only list ramps that operate in the country of your educational institution, you might also need to filter by City to be more specific
Click on the Product tags tab in the page's Header and select the currency you wish to transfer as well as any tag related to tuition payment to only list ramps that process your currency and provide tuition payment services
Select the Manual tab to only list manual ramps
Find the ramp you want to use for the operation in the list of available ramps and go to its control panel by clicking on its Control Panel button available in its details panel
Read the guidelines of your ramp on how to burn your tokens. The ramp in the image above for instance is asking us to contact an admin on PayChat in the room @payswap::matrix.org. So the next step is to contact them with the details about our burn operation
Make sure your user has sent you the tokens to burn
Select the correct token market in your ramp's panel
Go to the control panel and click on the Burn button. Enter the amount of tFIAT to burn and validate the form. Make sure to read all other information available on the form as well as the description of each parameter available when you hover over the help icon next to each parameter. You cannot burn less than 2 tFIAT tokens.
Click the Toggle Sessions button under the Control Panel button to reveal your ramp's ongoing burn/mint operations. Make sure only the Mine Only button is active from within the sessions' panel. If you cannot see your ongoing burn operation, reload the page and come back to the sessions' panel by clicking the Toggle Sessions button under the Control Panel button
Once you've spotted your ongoing burn session, click on its Process Burn button and confirm the operation
After the burn operation is complete, send the amount burnt to your user's educational institution using the payment method you agreed upon.
