Two-thirds of students would consider cryptocurrency to cover college fees
Two-thirds (67%) of college students would consider relying on cryptocurrency to cover college costs, according to a recent study by student housing provider UniHomes.
A survey of 1,365 students on May 19 of this year found that college students are twice as likely to invest in crypto than the general population, with around 189,000 UK undergraduates currently owning some form of currency. .
|Estimated number of crypto owners|
|Population segment||Estimated number of crypto owners||About% of the population|
|Undergraduates in UK||
While the crypto market remains volatile, it is believed that 3.4 million people across the country have invested, representing around 5% of the population and placing the United Kingdom 11th in the world ranking for the prominence of investors. For comparison, 10% of the student body currently owns cryptocurrencies, or 188,948 young people.
In terms of cryptocurrency ownership by employment status, university students come second after military personnel (20%).
“Students become more enterprising, with an original thought in terms of financial know-how, compared to previous generations” – Phil Greaves, UniHomes
The survey also confirmed that many students are keen to maintain their understanding of the crypto market, with 18% saying they always keep money aside to invest in cryptocurrencies, stocks, and stocks.
While opportunities for crypto transactions remain limited, students want this to change, with 67% saying they would consider using the fruits of their crypto investments to cover the cost of their college tuition, rent. and even the cost of living in general if they could.
|Description of the data||
|Average tuition fees||
|Save the student|
|Average cost of living||
|Save the student|
|Tution + average cost of living|
|Total for three-year degree||
|Annual total x 3|
|Parts counter (May 17, 9 a.m.)|
|Bitcoin required to cover a three-year degree||
|Three year cost / Bitcoin value|
The study found that the average overall cost of higher education in the UK is £ 18,024 per year. With Bitcoin currently valued at £ 28,175 (as of May 20), students studying for a three-year degree could comfortably cover tuition and living expenses with just 1.92 Bitcoin at current market rates.
“With cryptocurrency such a new form of investment, it’s interesting how many students would see this as a viable currency in the future,” said Phil Greaves, co-founder and director of UniHomes.
“Students become more enterprising, with original thinking in financial literacy, compared to previous generations.”
In other news: Middlesex University uses augmented reality to attract new students