Students can pay in Bitcoin or Ethereum for an online Wharton course called “Economics of Blockchain and Digital Assets.”
The University of Pennsylvania’s Wharton business school is introducing a blockchain executive education programme, and students will be able to pay for it in cryptocurrency, making it only the second American college to take Bitcoin.
Students will be able to select cryptocurrency from a tuition payment menu that also includes PayPal and credit cards beginning today. Those who participate will be able to pay with Bitcoin, Ethereum, or the USDC stablecoin.
Wharton will process payments through Coinbase Commerce. Coinbase charges merchants a 1% fee to use the programme, but the amount is not passed on to students. Payments can be done with any on-chain wallet, according to a Coinbase representative.
For the time being, the crypto payment option is only available to individuals who enrol in the six-week executive education course titled “Economics of Blockchain and Digital Assets,” which is provided online and is geared at finance professionals.
“It costs less than one Ethereum [token] at current prices,” notes Reed Cataldo, one of the course administrators.
The Wharton business school as a whole has yet to accept cryptocurrency tuition payments. However, Cataldo believes that the blockchain payment option will be embraced at Wharton and other colleges in the future.
Meanwhile, the University of Pennsylvania is no stranger to Bitcoin—the Ivy League school announced earlier this year that it had accepted its largest-ever crypto contribution, a $5 million Bitcoin donation from an anonymous donor to boost financial innovation.
Penn, which demands cryptocurrency donations of at least $10,000, and other American institutions have been collecting cryptocurrency donations for years.
However, until today, only one other college in the United States has allowed students to pay tuition in cryptocurrency: King’s College in New York began the practise in 2014. A few international schools have also accepted BTC. Among them are the Swiss Lucerne University of Applied Sciences, the American University of Paraguay, and the FPT University of Vietnam.