Although colleges take various forms of payment, never before has an institution of higher education gotten into the digital currency realm. Bitcoin, the digital currency most popular with e-traders and internet marketers, is now being readily accepted by reputable universities. This means that you can now fund your online masters of social work degree with Bitcoin, giving you a creative method of college funding. There’s a lot of controversy around this digital currency, but it’s not for the reasons you might think. Brazen hackers have gotten into personal bitcoin accounts, taking unsuspecting victims for all their worth with no recourse, but the cryptocurrency itself is thought to be harder to replicate than physical currency.
Disclaimer: This is a press release
How Bitcoin May Change Your Education
College students often pick up jobs and gigs during the summer breaks to help generate extra cash to pay their college tuition. The recent acceptance of Bitcoin as a legitimate form of payment across various college campuses may open doors for people looking for unconventional ways to fund their education. As crowdfunding and online donations increase in popularity with college students, some may begin to solicit Bitcoin donations, as they will lose less money through conversion and fees. In theory, an aspiring college student would be able to crowdfund the entire cost of their college education and then transfer the funds via Bitcoin directly to their colleges of choice. With fewer payment delays and instant online accounting access, people who thought they’d never be able to afford college might suddenly find new opportunities.
More Payment Options for Students Means Higher Enrollment Rates
College costs a lot of money, and if you don’t have the money upfront or are unable to meet your payment arrangement obligations, you can easily find yourself put out during the final semester of your MSW online degree program. Rather than risk losing valuable funds, many people opt to wait until they have secured enough money to pay their full tuition fees before even thinking about enrolling. Since Bitcoin can actually fluctuate in value, you can easily find extra funds for cash just by waiting for precisely the right time to make a payment. Universities are beginning to understand that digital currency is just as secure as credit cards, money orders, checks and cash – all of which can be counterfeited, reversed or declined.
How Bitcoin Payments May Catch on Across University Campuses
It won’t happen immediately, but more and more major universities are going to recognize the benefits of accepting Bitcoin so students can pay their tuition, dorm fees and lab costs instantly. The fact of the matter is that making sizable payments sometimes takes time. While some college students will need to wait for their paychecks to clear before they can make a tuition payment, those with access to Bitcoin can fulfill their financial obligations whenever they want. Colleges interested in growing will ultimately begin to view Bitcoin as a viable payment option for incoming and existing students.
Even if you don’t plan to use Bitcoin to fund your college education, knowing that you have the option is nice. The colleges that accept Bitcoin are bound to become more attractive to non-traditional students. Students who haven’t heard of Bitcoin before will also be much more likely to utilize the cryptocurrency as a fast, convenient and possibly even cost saving means of paying for their degrees.
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