Do you want to study abroad? And you are not ready to deal with the hassle that comes with sending money abroad (mostly the delay)? Do you know that it’s now possible to pay for your tuition fees effortlessly (in a matter of seconds, at most, minutes) using Bitcoin? I bet you didn’t. That’s why in today’s guide, we’ll be giving you a list of universities that allow you to pay your tuition fee with Bitcoin.
Cryptocurrency has evolved over the years and has changed the way people conduct transactions online. In the past, you wouldn’t be able to send your money (fiat money) abroad or to someone else in your country without passing through a financial institution like your bank. Today, with cryptocurrency, you can now send money to any part of the world with third-party involvement.
However, many people still have opposing beliefs and you might hear them say stuff like cryptocurrency is volatile (i.e., they are not stable), while that statement is true, not all cryptocurrencies are volatile; they are a few very stable coins, pretty much as stable as your fiat currency and among all those stable coins like USDT and Binance USD, Bitcoin sits at the top of them all, though not as stable as some of them, it’s still one of the best coins you’ll ever buy.
Due to the increasing popularity of Bitcoin and other cryptocurrencies, it’s now possible to buy and sell stuff online using cryptocurrencies like Bitcoin as the preferred Medium of exchange. Hence, it’s not surprising that educational institutions now accept payments via Bitcoin. In today’s guide, we’ll be taking a look at the list of universities that allow you to pay your tuition fees with Bitcoin.
List of Universities That Allow You to Pay Your Tuition Fees With Bitcoin
1. University of Nicosia (Cyprus)
If you are wondering which university took the initiative of becoming the first university to accept tuition fee payments via cryptocurrency (Bitcoin), well you don’t have to wonder anymore, the answer is the University of Nicosia.
The University of Nicosia became the very first accredited university in the world to accept tuition fee payments via Bitcoin. This payment pattern initially started in 2013, and ever since then, the university has been accepting Bitcoin payments for online programs and affiliated schools. Students of the University of Nicosia can pay their Bitcoin fees through an online merchant processing service or at the university’s finance office.
Even though the University of Nicosia is okay with accepting payments in Bitcoin, they immediately convert the digital token to Euro due to its volatility.
2. King’s College (New York)
The United States (US) is one of the many countries that were able to see the potential of cryptocurrencies and jump on them during their initial days. Many might even think that by this time, the use of cryptocurrency in the nation would be as common as fiat currency; in reality, the number of colleges that accepts payments via cryptocurrency (Bitcoin) is very few.
Among the few colleges that accept payment via Bitcoin, King’s College, located in New York, was the very first accredited university to accept Bitcoin payments. The college partnered with a trading company named ‘Coin.co’ which made it possible for the college to Bitcoin payments as well as donations. However, the major reason for this move by the college was to sensitize the students on the latest technological developments and emerging trends in the market.
3. Innovation and Entrepreneur Business School (Spain)
The Innovation and Entrepreneur Business School is an educational institution based in Spain. Just like the University of Nicosia, this institution was also among the early adopters of payments in Bitcoin. The Spain-based college only offers online courses to students from all over the globe and accepts tuition fee payments in Bitcoin.
Unlike other universities and colleges that accept payments in cryptocurrency, the college went ahead to set a fixed rate to prevent their international students from going through unwanted stress due to the volatile nature of Bitcoin. The great part is, that the international students won’t be worried or bothered by international exchange rates as well.
4. European School of Management and Technology (Germany)
The European School of Management and Technology is a front-running German university that offers tech-based and management courses. The Germany-based European school started accepting Bitcoin payments for the executive education program and any certificate degree in 2016. One of the major reasons why the institution choose to adopt Bitcoin as a medium of payment was its easy-to-use and transact nature.
Once the institution realized that they too can accept payments via cryptocurrency just like other institutions that accept such payments before them, they grabbed the opportunity to opt for this 10-minute transaction that eased the management’s burden. EMST is among the list of universities that allow you to pay your tuition fees with Bitcoin.
5. Financia Business School (France)
Financia Business School is one of the most prestigious colleges in the whole of France that offers its students blockchain-based education degrees. After realizing the importance of cryptocurrency (Bitcoin), in 2018, the college started allowing students to pay for their tuition fees via Bitcoin.
A major reason for the acceptance of Bitcoin as a medium of payment by the college was the number of international students they had. About one-third of the students in the college were from abroad and they faced a lot of challenges when trying to convert their nations’ currencies to Euro. This made the institution shift its attention towards cryptocurrency (precisely Bitcoin) as a means to reduce the burden that comes with complicated and costly money transfers.
Financia Business School partnered with a digital asset and blockchain technology firm, Coin Capital, to help with the Bitcoin payment process.
6. The University of Cumbria, United Kingdom
Remember when we said that the University of Nicosia was the first university to accredited university in the world to accept payment via Bitcoin? Well, the University of Cumbria is the first public university in the world that started accepting tuition fee payments via Bitcoin in 2014.
When the university started accepting payment via Bitcoin, they initially limited the payment to two courses on complementary currencies in economic systems. They observed the payment structure for a while before extending it to all the classes. The university is currently one of the top colleges in the North West for further education and employment. The University of Cumbria is among the list of universities that allow you to pay your tuition fees with Bitcoin.
7. FPT University (Vietnam)
FPT University is a private university that’s located in Vietnam. The university is a member of the FPT (The Corporation for Financing and Promoting Technology) Group and has campuses in Hanoi, Can Tho, Ho Chi Minh City, Da Nang, and QuyNhon.
FPT University is one of Vietnam’s top technology universities and as a forerunner in technology in Vietnam, in 2017, the university started accepting tuition fee payments in Bitcoin. This came as a surprise since it started at a time when Vietnam was looking for ways to manage virtual money usage in the country. The university allowed international students to use Bitcoin as a medium of payment if they wished.
The university came to this conclusion (i.e., allowing Bitcoin payments) when they realized that most of their international African students were facing difficulties when trying to convert money. Even though this move had a negative impact on the university initially—they were thrashed for going against the government of the country by accepting Bitcoin payments—many eventually saw it as a good move later on.
Other universities that fall into the list of universities that allow you to pay your tuition fees with Bitcoin include:
- University of Applied Sciences and Art (Switzerland)
- Berkley University (United States)
- Princeton University (New Jersey, US)
- Varna University (Bulgaria)
- Flinders University (Australia)
There you have it! There goes our list of universities that allow you to pay your tuition fees with Bitcoin.
Note: If you attend any of the aforementioned institutions or you intend to attend one in future, then it’s important that you know that universities that accept Bitcoin payments access your payment based on the actual value. What do we mean? Let’s assume a semester costs $300 and you have Bitcoin worth $300 today; if by the time you intend to make the payment, the value drops to $200, you won’t be able to make the payment. Hence, always make sure that your Bitcoin value matches the cost of the tuition fee before making your tuition fee payment via Bitcoin.