Bitcoin can already be used to purchase a plane ticket, donate to a political campaign and pay a satellite TV bill. Beginning this fall, it can also be used to pay for a college education.
On Friday, 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.
A small liberal arts college committed to “the truths of Christianity and a biblical worldview,” King’s charges $15,950 a semester for 12 to 18 credits, according to its website. King’s has about 500 students, according to the school’s president, Gregory Thornbury.