Universities that allow you to pay tuition fees in Bitcoin?

The mainstream acceptance of cryptocurrency is still in its infancy. Many feared they had missed the digital currency bus when Bitcoin smashed its own record and climbed to US$63,000 in mid-April. However, it has now dropped significantly and is still holding steady at a reasonable price. Alternative cryptocurrencies such as Ethereum, Polygon, Solana, and many others are also on the rise. Although the cryptocurrency sector as a whole has seen a rise in interest, bitcoin has remained a popular choice for investors.

Moving forward, colleges embracing bitcoin is a much less-discussed topic. Universities recognized the cryptocurrency wind and began accepting bitcoin payments for tuition fees at an early stage. The primary rationale for this adoption is to remain ahead of the competition and to educate students on industry trends. Another possibility is to alleviate the financial strain placed on overseas students by the cost of currency conversion. In addition, several institutions of higher learning are now accepting contributions in bitcoin.

In this article, we’ll be exploring some of the popular educational institutions that accept Bitcoin and other cryptocurrencies for tuition fees

Universities that accept tuition fees in Bitcoin

• University of Nicosia, Cyprus
• King’s College, New York
• Innovation and Entrepreneur Business School, Spain
• European School of Management and Technology, Germany
• Financia Business School, France
• The University of Cumbria, United Kingdom
• FPT University, Vietnam
• American University of Paraguay
• Lucerne University of Applied Sciences

University of Nicosia, Cyprus: The University of Nicosia became the world's first authorized university to accept tuition payments in Bitcoin. Since its inception in 2013, the University of Nicosia has accepted bitcoin payments for online programs and associated schools throughout the year. Students at UNIC are required to pay their bitcoin fees at the university's finance office or via an online payment processing provider. Because of the volatility of bitcoin, UNIC doesn't hold the bitcoin and immediately converts the digital token to Euro,
 

The King’s College, New York: The U.S. is among the very first countries to join the cryptocurrency industry. Even still, there are just a handful of universities in the nation that accept bitcoin payments. The King's College, located in New York, became the first approved institution in the United States to accept bitcoin as payment. The institution was able to take bitcoin payments, as well as contributions and other expenditures, thanks to a partnership with 'Coin.co,' a bitcoin trading firm. The main reason was to educate learners about new industry trends and technology breakthroughs.
 

Innovation and Entrepreneur Business School, Spain: The Innovation and Entrepreneur Business School (IEBS) in Spain was among the first to accept Bitcoin payments. They provide online-only courses to students from all around the world and accept bitcoin as payment for tuition. However, in order to prevent students from experiencing unnecessary anxiety as a result of bitcoin's volatility, the school has offered a fixed rate to its diverse group of foreign pupils. As such, they don't have to be concerned about foreign currency rates.
 

European School of Management and Technology, Germany: In 2016, the European School of Management and Technology (ESMT), based in Berlin, Germany, began accepting bitcoin as payment for any certificate degree and executive education program. One of the primary reasons for its popularity was its ease of use and transactional properties. They seized the chance to choose this 10-minute transaction format, which reduced management's workload. ESMT is a leading German university that specializes in technology and management education.
 

Financia Business School, France: Financia Business School, one of France's most respected universities, provides blockchain-based education degrees. In 2018, the institution permitted students to pay bitcoin fees after recognizing the value of bitcoin. Another factor for its bitcoin acceptability is the significant portion of overseas students in the institution. Almost one-third of Financia's pupils are international, making it difficult for them to change their home money to Euro. As a result, the college chose bitcoin payments to alleviate the strain of difficult and expensive money transfers. Financia has teamed with Coin Capital, a digital asset and blockchain tech startup, to help with the bitcoin fund transfer.
 

The University of Cumbria, United Kingdom: The University of Cumbria became the first public institution anywhere in the world to embrace bitcoin as payment for fees in 2014. Bitcoin payments were initially confined to two courses on complementary currencies in economic models. Later, it was expanded to all courses. The University is one of the leading institutions in the North West for finding employment or furthering your education. In addition to its main campus in Cumbria, there are auxiliary campuses in London and in Lake District National Park.
 

FPT University, Vietnam: FPT, one of Vietnam's premier technical colleges, began accepting bitcoin for fees in 2017. It was an unexpected decision at a time when the nation was looking for measures to control virtual currency use. FPT permitted all international students to utilize bitcoins initially if they so desired. The decision was made when the university noticed that the majority of its African students moving to the institution face challenges with currency conversion. Even though the institution was chastised for defying the authorities and accepting bitcoin payments, many people ultimately realized it was a wise decision.
 

American University of Paraguay: The American Institution of Paraguay is a prestigious private university with over 17,000 international students. The institution announced in the second quarter of 2021 that students would be able to pay their tuition costs using cryptocurrencies such as Bitcoin, Ether, and XRP.
The administration cited the need to be accommodating to pupils who prefer these digital currencies. It also said that it would hold its cryptocurrencies and decide whether to convert them into fiat money. The decision comes as Paraguay considers following El Salvador's lead in making Bitcoin legal tender.
 

Lucerne University of Applied Sciences: With almost 12,000 students, Lucerne Institution of Applied Sciences is a renowned Swiss university. The university is supported by Central Switzerland's six cantons. The institution stated in 2017 that it would begin accepting Bitcoin for tuition. Management said:
By accepting the bitcoin cryptocurrency, the Lucerne University of Applied Sciences and Arts is indicating its ability to disseminate knowledge on cutting-edge technologies such as blockchain, as well as its desire to gain experience in the practical aspects of this novel area.
 

Conclusion

Although Bitcoin is notoriously volatile, it is clear that educational institutions are increasingly accepting it as tuition fees. This is likely a result of wanting to remain one step ahead of the competition. Needless to say, cryptocurrencies provide several advantages for students studying abroad, and as adoption continues to increase, more institutions are anticipated to follow suit.

Disclaimer: Cryptocurrencies are highly volatile and subject to market, technical, and regulatory risks. Crypto trading requires one’s own diligence, and Cryptoforce will not be responsible for any losses incurred. Any information provided here should not be regarded as Cryptoforce’s technical or financial advice.