Lomond School, a private school in Scotland, announced that tuition fees could be paid with Bitcoin , making it the first private school in the UK to accept crypto payments. The new feature will come into effect for the Autumn 2025 session. The headmaster announced the news at a crypto event, saying that other schools could follow suit and that parents could pay their fees using crypto rather than traditional bank transfers. Parents requested to pay tuition fees with crypto because many were living overseas and didn’t want to pay the currency exchange fees, which can often be expensive and cumbersome. The headmaster also considered that overseas students, especially tech-savvy and familiar with digital assets, may be interested in the option. “For generations”, wrote Claire Chisholm, Lomond headmaster, “this school has nurtured inquirers, thinkers, communicators, and open-minded risk-takers. We were the first boarding school in Scotland to house boys and girls under the same roof. We recently moved away from the Scottish Government’s SQA curriculum and introduced the International Baccalaureate, a globally-renowned qualification favoured by universities and employers worldwide”. Lomond School plans to implement the Bitcoin strategy in phases because it wishes to do more with crypto in future projects. But for starters, it will allow parents to pay with Bitcoin, only to convert the crypto to Great Britain Pounds (GBP) to avoid price volatility. This will ensure that their first crypto project will be stable and can handle payments by patents with minimal fuss. Two exchanges, CoinCorner and Musquet, will handle Bitcoin transfers, both of which have been approved by the FCA. The coins will be converted directly into GBP, which avoids crypto volatility and abides by UK standards requiring an authorized platform to handle payments. For instance, handling the transactions themselves may incur further regulation for the private school because the UK has been strengthening rules concerning online payments to protect consumers from fraud. Chisholm has chosen the Cheatcode Bitcoin conference, held at Bedford, to announce the news. Former Prime Minister Liz Truss will give a speech shortly after on ‘saving the West,’ and the Winklevoss twins will give a speech about the Premier League. Lomond School says they prepare students for the future by instilling sound money principles. They teach the children about economic theories and the principles of free markets and liberty. Bitcoin is a great teaching tool for the school because it encompasses, in a very modern way, the economic principles they teach daily. According to the school, Bitcoin is more inclusive because people from less developed nations can use digital money and transact across the globe. Overall, Bitcoin is a fairer form of money than traditional money, giving people better access to banking. Instead of using a bank, a person can use Bitcoin to pay for private school tuition fees and can do so with just an internet connection.
