One of USA’s premier business schools, the Wharton School, plans to accept Bitcoin as payment for tuition. The business school plans on accepting crypto as tuition payment for its digital assets and blockchain program.
Hence, this implementation makes Wharton the first Ivy-league institution to accept crypto payments. Wharton will be the 2nd university in the US to accept crypto payments, in addition to schools like being King’s College in New York which was the first to accept crypto.
However, payment for this program is not limited to Bitcoin payments. Enrolling students also have the option of paying through credit cards and PayPal.
Wharton Acceptance of Bitcoin as Tuition Payment
This online program begins in January and costs 3,800 USD. Without a doubt, the university expects the program to attract thousands of students per year. The Philadelphia-based Ivy League institution will accept crypto payments of Bitcoin, Ether, and USDC as tuition payments.
While speaking in an interview, managing partner at Prysm Group, Guido Molinari, said this step is about “talk(ing) the talk and walk(ing) the walk.” He explained that it only makes sense to accept crypto as a mode of tuition payment for a program on digital assets.
The Prysm Group is also working with Wharton to develop the blockchain and digital assets program. The school will accept crypto payments through Coinbase Global, which is the US’ largest crypto exchange.
The Coinbase Global platform will charge merchants a fee of 1%. However, Wharton will not pass this fee to its students once they begin using the service. Students can also make payments using any on-chain wallet.
Currently, the Bitcoin payment option is restricted to the online six-week digital assets course. There are plans to expand the crypto payment option to other Wharton students.
Other Universities Accepting Bitcoin As a Mode of Payment
There’s been an increase in the number of institutions and businesses that accept crypto as a mode of payment, and learning institutions aren’t being left behind. There are currently seven top universities in the world that accept Bitcoin payments.
The adoption of Bitcoin payments for tuition fees has two significant advantages.
First, the students become involved in the crypto market and consequently become aware of market trends. Secondly, payment in the form of BTC eases the burden on international students.
The universities that accept Bitcoin payments are;
- King’s College, New York
As aforementioned, King’s College is the first university in the US to accept BTC as payment. The New York-based college has partnered with BTC trading company Coin Co. to accept BTC payments.
- European School of Management and Technology, Germany
This Berlin-based university began accepting BTC payments back in 2016. BTC is accepted as payment for any executive education program as well as any certificate degree.
- Financia Business School, France
This college began accepting BTC payments back in 2018. This implementation aims at making tuition payment easier for international students, who are almost a third of their whole student population.
- FPT University, Vietnam
FPT university began accepting BTC payments from international students back in 2017.
- Innovation and Entrepreneur Business School, Spain
Innovation and Entrepreneur Business School (IEBS) was one of the first schools to accept BTC payments. The Spain-based school accepts BTC as a tuition fee for their online courses.
- The University of Cumbria, United Kingdom
The University of Cumbria in fact became the first public school in the world to accept payment back in 2014.
- University of Nicosia, Cyprus
The University of Nicosia, founded in Cyprus, became the world’s first accredited university to accept BTC payments.