We all know that colleges will do just about anything to get as much money from their students as possible as long, of course, as it’s actual US currency. One college is so willing to take their students’ money that they are now accepting Bitcoin as a way to pay their tuition.
King’s College, a private, evangelical Christian school in New York City, became the first university in the country to allow students to pay their bills with the digital currency. They will also accept donations from benefactors who are willing to make a donation in Bitcoin. The school said in a released statement that they hope their decision “will signal to other institutions that Bitcoin acceptance is not simply for technology companies. Much like the first universities or businesses to obtain email address, The King’s College is standing at the forefront of change.” We’re hoping that their use of the word “change” was not a poorly timed pun.
Bitcoin is still relatively new and untested so this is more of an experiment than a groundbreaking wave of the future. It’s also not likely to catch on that quickly though. Bitcon isn’t used as widely as common currency or even other forms of payment that still use traditional cash like PayPal. Bitcoin is also worth a little less than traditional cash so most universities are unlikely to accept the new currency anytime soon unless any college’s endless staff of presidents and vice presidents are willing to take a pay cut anytime soon.