Should I wait for a better rate before sending?

Waiting for a better rate is a gamble with no guaranteed outcome, because the rate may improve or worsen. If you have a deadline, such as a tuition fee, sending on time is usually more important than chasing a better rate. If your timing is flexible, you can decide in advance what level you would be content with and what you will do if it is not reached. A rate alert from your bank or provider is one option; this site does not send them. This is general education, not advice.¹