A private boarding school in Scotland has announced that it will begin accepting Bitcoin, a cryptocurrency, as payment for tuition fees.
According to local media including the BBC on the 13th (local time), Lomond School, located in Helensburgh in the Argyll and Bute region, said it has decided to introduce Bitcoin payments in response to requests from some parents. The school’s annual tuition fees can reach up to £38,000 (approximately 70.9 million KRW).
Starting from the autumn term this year, tuition fees can be paid in Bitcoin. To minimize the risk of exchange rate fluctuations in the initial phase, the school plans to convert Bitcoin payments into British pounds. The school stated, “The introduction of Bitcoin aligns with our ethos of independent thinking and innovation.” However, they made it clear that other cryptocurrencies besides Bitcoin will not be accepted.
Lomond School claims to be the first private school in the UK to accept cryptocurrency as a form of tuition payment.
Principal Claire Chisholm said, “Our school has a long tradition of nurturing inquisitive, reflective, and communicative individuals across generations.”
The school emphasized that all Bitcoin transactions will be “safe, transparent, and fully legal,” and that they will strictly comply with regulations from UK financial authorities, including anti-money laundering and tax compliance.
Lomond School was established in 1977 through the merger of Larchfield School and St. Bride’s School for Girls, and currently educates students from ages 3 to 18.
Meanwhile, Bitcoin, a digital currency not controlled by central banks or financial institutions, has seen price increases in 2024, but continues to experience high volatility. Its value can fluctuate significantly depending on market sentiment.
