Home BitCoin The Complete Guide to Using Bitcoin to Pay Off Your Student Loans

The Complete Guide to Using Bitcoin to Pay Off Your Student Loans

The Complete Guide to Using Bitcoin to Pay Off Your Student Loans

Student loans are a fact of life for many college graduates. BitPay Bill Pay provides the flexibility to make monthly student loan payments in crypto directly to lenders using almost any wallet and with more than a dozen top cryptocurrencies, either through the BitPay app or right from our website.

After being on pause for more than three years due to the pandemic, student loan payments have once again reared their ugly head, picking up right where they left off. Now, however, you can easily pay off your student loans with Bitcoin or just about any cryptocurrency of your choice through the BitPay App. Read on for our headache-free guide to making safe and easy student loan payments with crypto.

How to Pay Student Loans with Crypto

Getting set up to pay your student loan payments with crypto is fast and simple, and requires only a few steps to get started.

  1. Step 1: Get the BitPay app and set up your walletDownload the free app for Android and iOS devices. The BitPay Wallet is self-custody, meaning that you, and only you, control your funds. Easily create a wallet to pay your student loans or import wallets/keys created in other popular self-custody wallet applications like Metamask, Exodus Trust Wallet and Coinbase Wallet. Alternatively, you can make student loan payments from your browser on the BitPay website. Log into your BitPay account and navigate to the Bill Pay tab from within the personal dashboard.
  2. Step 2: Connect your accountsIn the BitPay app, tap the “Pay” tab and then “Pay Bills”. If you are a new BitPay user, you’ll be prompted to provide basic KYC information. Your information is used to connect your student loan account to your crypto wallet.
  3. Step 3: Pay your student loans with your favorite cryptocurrencyOnce your student loans are connected, provider, due date, balance and more details are displayed in the app. Select your student loan, tap “Pay Bill” and enter the amount you’d like to pay. Then choose your preferred cryptocurrency and confirm the payment. It is that easy. Get the App or Connect on Web to Start Get Started

Which student loan providers can I pay with crypto?
You can use BitPay Bill Pay to make loan payments from virtually any lender, including Navient, Nelnet, Sallie Mae, Discover Student Loans, FedLoan Service, and practically any other student loan provider.

Which cryptocurrencies can I use to pay off my student loans?
BitPay Bill Pay supports crypto payments using any a wide range of coins and tokens, including Bitcoin (BTC), Bitcoin over the Lightning Network, Ethereum (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), Shiba Inu (SHIB), Litecoin (LTC), Polygon (MATIC), XRP (XRP), Dai (DAI), Wrapped Bitcoin (WBTC), Gemini USD (GUSD), USD Coin (USDC), PayPal USD (PYUSD), Binance USD (BUSD), ApeCoin (APE), and Euro Coin (EUROC).

Which wallets can I use to pay my student loans?
You can make student loan payments right from the BitPay App, or online through the BitPay website if you prefer to bring your own crypto wallet.


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