Over the last few years, there have been many colleges and well-known universities all across the world that have started accepting bitcoin. Alongside paying for a higher education with bitcoins, now people can utilize the decentralized currency at private daycares and schools that offer the Montessori educational approach for children.
Montessori Schools in New York City Accepting Bitcoin for Children’s Tuition
This month Marco Ciocca, co-founder of the Montessori Schools in New York City announced the school would be accepting bitcoin for parents to pay their children’s tuition. A Montessori education created by the Italian educator Maria Montessori promotes independence and freedom within limits. The Montessori Schools in NYC have classrooms in the Flatiron and Soho districts and cost $30,950 for the full-day program.
“We looked at the pros and cons of accepting it and decided that now is probably a good time because it’s starting to enter the mainstream,” Ciocca tells the publication Town & Country. “It happens to be that we’re the first pre-kindergarten school to accept it as a form of payment.”
According to Ciocca, a “handful” of parents have used the digital currency to pay for tuition so far. When asked whether or not the school thought about bitcoin being associated with illegal activities Ciocca says, “we’re a school, which is wholesome and obviously deals with children.”
News Columnist Says Her Daughter’s Preschool Tuition Can Be Paid in Bitcoin
Just recently a columnist from the publication Business Insider, Sara Silverstein, explained how she could pay for her daughter’s daycare with bitcoin. Silverstein details that it was an interesting coincidence that the school emailed her about accepting the cryptocurrency because she watched the value of bitcoin rise 30 percent that week.
“The rest of my daughter’s preschool tuition is due on June 1st. I just got a message from the school informing me that they are pleased to announce that they will now be accepting bitcoins for tuition payments,” explains Silverstein.
If I chose to take them up on their offer, I would be paying them about nine and a half bitcoins at the current price. If I had paid my bill in bitcoins a month ago, it would have cost over 17 bitcoins. Two months ago I would have owed them nearly 24 coins.
Bringing ‘Out-Of-The-Box’ Ideas to Students
Silverstein’s daycare and Montessori are not the only schools for children utilizing bitcoin. Indian Mountain School (IMS), an independent private school for kids in pre-kindergarten through grade nine accepts bitcoin for fundraising initiatives.
“We believe this opportunity will not only benefit parents but will broaden the horizon for the next generation and afford IMS students an understanding of new technologies that will no doubt impact their futures,” explained Charles Allen an alumnus of IMS when the school announced accepting bitcoin.
IMS was the first elementary school in the U.S. to accept bitcoin and the Head of School, Mark A. Devey, thinks digital currency is “an inventive way to bring this out-of-the-box idea home to our students.”
What do you think about private schools for children choosing to accept bitcoin for tuition and fundraising? Let us know in the comments below.
Images via Pixabay, Business Insider, and the Montessori Schools.
Dislaimer: This is not investing advice, this website is for educational purposes only.