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6 Popular Universities Accepting Crypto For Tuition Fees

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6 Popular Universities Accepting Crypto Payments For Tuition Fees
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Beyond buying and selling, cryptocurrencies have tremendous real-life applications. Also, blockchain technology can find usefulness in almost all sectors of life including the university educational system. Therefore, the question before us is not ‘if’ but ‘when’ will cryptocurrency and blockchain technology gain global and all-around mass adoption?  

As you must know, the broad adoption of this emerging technology will not happen one day but gradually. The baby days of cryptocurrency never got a warm reception from many individuals, institutions, universities, and governments.

However, in a decade and counting, many of these entities have opened their arms wide for the technology. It is safe to say that the adoption rate will only continue to skyrocket as proper awareness increases. 

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Particularly, many top colleges and universities in the USA and some other parts of the globe have embraced cryptocurrency and blockchain greatly. In recent times, some universities now accept Bitcoin and stablecoins for tuition fees.

Likewise, few have introduced crypto and blockchain courses into their syllabus. As the technology continues to evolve, it is believed that more schools in different nations will follow suit. 

In this article, we will be considering some of the popular universities that have shown crypto-friendliness. 

Popular Universities Accepting Crypto Payments For Tuition

Below are some of the popular universities where students can pay their tuition with crypto.

1. The University of Nicosia in Cyprus (UNIC)

Did you know that this was the first university in the world to open the door for cryptocurrency in myriad capacities? It is also the world’s first university to introduce a Master of Science (MSc) programme in digital currency. The University of Nicosia in Cyprus has been and is still a pacesetter when it comes to cryptocurrency and academics. 

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In late 2013, the University of Nicosia, a private school in Cyprus revealed its intention to roll out a Master’s Degree programme in blockchain and cryptocurrency. The program which debuted in 2014 is designed to be appealing to everyone including cryptocurrency/ blockchain enthusiasts, government administrators, and entrepreneurs. Also, the MSc programme covers the technical aspect of cryptocurrency and how the growing technology can help impact society positively. 

In view of promoting the planned academic innovation, the University of Nicosia then introduced the option of paying tuition and other fees in bitcoin to its 5000-student school in 2013. 

Aside from being a profitable venture for the UNIC, the university stated that its goals go beyond just collecting fees rather it is to turn the Republic of Cyprus into a cryptocurrency hub.

Furthermore, the UNIC has partnered with several crypto projects like Coinbase, Stellar, Energy Web,  IOST Foundation, and many more. All of these partnerships are aimed at offering adequate crypto education in a bid to foster mass adoption. 

In December 2021, Internet of Services (IOST) Foundation collaborated with UNIC’s Institute For the Future (IFF) to empower women in the blockchain and crypto industry. The partnership is focused on offering annual endowed studentships to the University of Nicosia’s leading MSc in Blockchain and Digital Currency.

Also, UNIC’s Institute for the Future (IFF) became an educational partner for the Stellar Development Foundation (SDF) in 2021 to bridge the gap in technical education in the blockchain industry. 

Similarly, the Institute For the Future (IFF) – University of Nicosia (UNIC) and Coinbase announced the continuation of their joint Scholarship Programme for Minority Professionals, offering fifteen full scholarships for the next intake of the UNIC MSc in Blockchain and Digital Currency in Fall 2022. 

Most recently, the University launched the UNIC Open Metaverse Initiative, having a focus on the academic, research, and policy issues relating to the metaverse. 

2. University of Cumbria, United Kingdom 

The University of Cumbria is thought to be the first public university in the world to accept bitcoin for tuition. However, the payment option is only available for students studying courses that examine the role of complementary currencies in the university.  

The two courses in this category are the Postgraduate Certificate in Sustainable Leadership and Certificate of Achievement in Sustainable Exchange. Therefore, students studying these courses are allowed to pay their tuition fees using Bitcoin with effect from 2014. 

Meanwhile, the current University of Cumbria was formed in 2007 while the school’s history dates back to 1882. The UK-based university offers students with exciting research-informed academic studies, professionally focused courses as well as technical skills needed for career exploits. 

3. The King’s College 

Founded in 1938 by Dr. Percy Crawford, The King’s College is a Christian liberal arts college in New York City’s Financial District. The college’s mission is to prepare students for societal transformation through its different career opportunities. 

The King’s College prides itself as the first accredited school in the United States to accept Bitcoin for tuition, other expenses, and donations. This development came in June 2014 following a  partnership with New York’s Coin.co.

The company is a merchant processor that enables merchants to leverage the cryptocurrency market without having to deal with the actual accounting or processing of cryptocurrency.

More so, Coin.co said they are thrilled to be the pioneering company facilitating the use of Bitcoin for education. 

“Allowing Bitcoin to be used to pay for a King’s education decreases our costs while simultaneously allowing our students to be a part of this exciting new technology,” said Dr. Gregory Alan Thornbury, President of The King’s College.

Also, the college noted that it will urge other institutions to follow in its footsteps reiterating that Bitcoin acceptance is not simply for technology companies alone. Interestingly, many other schools now accept tuition fees in crypto. 

University Crypto Adoption

4. Paraguay’s Universidad Americana (American University of Paraguay)

The American University of Paraguay noted that it will begin accepting cryptocurrencies as payment for tuition way back in August 2021.

According to the University’s general director Camilo Jiménez Agüero, the institution plans to accept only Bitcoin, Ethereum, Dash, and Ripple as forms of payment. 

In achieving this, Paraguay’s Universidad Americana is working with an undisclosed local crypto company. 

The university has about 17,000 students where 60% of the students study virtually. 

Read Also: Australia Makes Massive Crypto ETF Moves 

5. University of Pennsylvania’s Wharton School

In October 2021, the University of Pennsylvania became the first Ivy League institution to accept cryptocurrency payments for tuition fees. While Wharton became the first U.S. business school to do the same. Meanwhile, Wharton School is a subset of the University of Pennsylvania. 

Notably, the tuition-in-crypto option is only supported for just one online program at the Wharton business school. The online program titled “Economics of Blockchain and Digital Assets course” is a six-week certificate course developed in partnership with Prysm Group. 

Prysm Group is an economic consulting and executive education firm, led by Harvard-trained Ph.D. economists whose specializations are in the blockchain and crypto industry.

Other entities partnering with Wharton School to achieve this major stride include Coinbase, Algorand, Synthetix, and many more. According to the school’s statement, the goal of the blockchain-based online program is to educate business leaders on how cryptocurrency and blockchain technology can be applied to their businesses thereby unlocking value for the global economy.

On the whole, students in the University of Pennsylvania’s Wharton School have been given the option of making their tuition payments for this online course in cryptocurrencies like Bitcoin, Ethereum, and/or USD Coin (USDC). 

For the records, the Wharton School’s Economics of Blockchain and Digital Assets program began its first batch of training on January 3, 2022. 

To participate in this scholarship and more information on the program, you can visit here.

6. Bentley University

History has it that this University began in 1917 as Bentley School of Accounting and Finance when Harry C. Bentley first convened a class of 30 students in Boston. In 2008, it expanded to become Bentley University, a private and not-for-profit university.

Over the years, the university has continuously evolved with technology to become one of the top business universities in the United States. In addition, the university is located in Waltham, Massachusetts with a population of about 5000 students.

After a century and five years of existence, Bentley University is now one of the first universities in the United States to adopt the technologies changing the business and finance world. This justifies the claims that diversity is critical to Bentley University’s mission of educating creative, ethical, and socially responsible organizational leaders. 

On May 3, 2022, the Massachusetts-based university announced its acceptance of cryptocurrency for tuition payments. To make this work, a partnership between Bentley University and Coinbase, a crypto exchange has been sealed. Per the announcement, Bitcoin (BTC), Ethereum (ETH), and the stablecoin USD Coin (USDC) are the only supported cryptocurrencies. 

In the same vein, Bentley University is also intending to accept gifts and donations in Bitcoin (BTC),  Ethereum (ETH), and USD Coin (USDC). 

In the words of the University’s ninth and sitting President E. LaBrent Chrite, 

“Bentley University is at the forefront in preparing business leaders with the skills and knowledge to succeed in the changing world economy. We are proud to embrace this technology that our students are learning about, which will soon transform the global business landscape they are about to enter.”

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