In an age where college tuition and fees are growing larger than the 50 foot woman, wouldn’t it be great if students could save a hefty bunch and not worry as much about the debt they’re inducing? Well, now they can… With bitcoin.
BTC store Brawker is partnering up with student loan service Tution.io in order to bring about what they’re calling tuition gift cards, which can help students save up to 17 percent on their education loans.
Brawker sells bitcoins at a markup, and thus students are allowed to sell bitcoins in exchange for a Tuition.io gift card. Cards carry a limit of $500 and incur a 6 percent processing fee, but customers may purchase cards for $441 (a discount of 17 percent).
There are only a few steps involved with the process. One must simply provide their credit card information to buy bitcoins. Once the currency is purchased, the trading may begin, and the markup students get when they sell their bitcoins for a Tuition.io card is the savings they receive on their tuition.
Not all loans seem to work with the service. Loans granted through Sallie Mae for example (arguably one of the largest loan services in the United States), cannot be leveled through Tuition.io cards.
The service is fairly new and still has some kinks to work out. Still however, the notion of saving as much as 17 percent on student loans already has some education enthusiasts flocking.
