Scotland’s Lomond School will accept Bitcoin payments for tuition starting this autumn, becoming the UK’s first private school to do so.

A boarding school in Scotland has declared that it would take Bitcoin as payment for tuition. According to Lomond School in Helensburgh, Argyll and Bute, which charges up to £38,000 per year, the adjustment was made in response to requests from some parents.

Tuition payments in Bitcoin will be allowed starting this autumn term; however, they will initially be converted to UK pounds to mitigate currency risk. According to the school, embracing Bitcoin was consistent with its values of independence and creativity. There will be no acceptance of other cryptocurrencies.

Lomond School was the very first private institution in the UK to accept Bitcoin as payment for tuition, they claim. According to head teacher Claire Chisholm, this school has fostered risk-takers, communicators, thinkers, and inquirers for years. Therefore, it should come as no surprise that John Logie Baird, the man who invented television, was once a student.

In 1977, the old Larchfield School and St Bride's School for Girls merged to become Lomond in Helen

burgh. Nursery school students up to the standard age of eighteen are welcome.

The school said all Bitcoin transactions would be safe, transparent, and legal. It stated that it would abide by UK anti-money laundering and tax compliance regulations.

One form of digital currency that is unregulated by centralized financial institutions is Bitcoin. Although its price increased in 2024, it is quite erratic and can fluctuate in value at the whim of buyers and sellers.