The First College To Accept Bitcoins As Tuition Payments | Exploring Markets

The First College To Accept Bitcoins As Tuition Payments

In the Financial District of New York City there is a small Christian Liberal Arts college. The cost to attend this college full-time and on-campus costs roughly $51,787 a year. That is a ton of money for college and many students pay their tuition in different ways. Some use financial aid while others pay out of pocket. But perhaps what is most interesting is that it's officially the first college to ever accept Bitcoin as a form of tuition payments:
"King’s College, a four-year evangelical school based in Lower Manhattan, said that it would become the first accredited college to allow students to pay their tuition in Bitcoin. It’s also the latest in a growing list of groups that have begun accepting virtual currency, fueled by a cottage industry dedicated to making online money easier to use.

But Mr. Thornbury does not know how many of those students, or future students, will actually take advantage of the new payment method. That’s not surprising, given that many merchants say that just offering Bitcoin as an option can be a useful marketing tool.

Mr. Thornbury said that the school was primarily motivated by the desire to be forward-thinking. "It seems to be fairly similar to email 20 years ago," Mr. Thornbury said in an interview Friday. "Why would we need that? And then everybody has one." - King’s College in New York to Accept Bitcoin, Dealbook