Paying Your Student Loans with Bitcoin [Full Guide]


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.

Step 1: Get the BitPay app and set up your wallet

Download 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.

Step 2: Connect your accounts

In 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.

Step 3: Pay your student loans with your favorite cryptocurrency

Once 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.

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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). We’re also continually evaluating other coins and tokens for inclusion in this list, so check back often if you don’t see your favorite crypto as an option currently.

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. 

Because the BitPay App provides a self-custody wallet, any other self-custody wallets you’ve created through alternate wallet providers can easily be imported into the BitPay App using your 12- or 24-word seed phrase. You can make student loan payments from the crypto assets contained in any of your imported wallets.

You can also pay student loans through the BitPay website, which is compatible with more than 100 of the most popular and trusted crypto wallets. All you need to do is sign up and connect to your lender. You’ll receive a custom invoice that can be paid using your wallet of choice.

What other bills can I pay using crypto?

BitPay Bill Pay ushers in a golden age for crypto payments, giving users multiple options to seamlessly pay all kinds of bills using their cryptocurrency of choice. In addition to student loans, you can use BitPay to make car payments, pay your mortgage, credit cards, personal loans and more from more than 5,000 lenders and service providers.

Credit card bills

With the BitPay Bill Pay, you can connect your credit card accounts and pay your monthly bill from your crypto wallet, no checking accounts required. BitPay supports all of the major credit card providers including Chase Bank, Bank of America, Citibank, Discover and plenty more. See more about paying credit card bills with crypto. See our guide to paying credit bills with crypto.

Mortgage payments

Rather than fussing with multiple bank and lender dashboards, simplify making your monthly mortgage payments by using crypto. BitPay makes it easy to pay your home loan with your favorite cryptocurrency even with major banks like Chase, Wells Fargo, Quicken Loans, Bank of America, CitiMortgage and many others. See more about paying your mortgage crypto.

Car payments

You can also use the BitPay App to make monthly car payments no matter who your lender is, including Capital One Auto Finance, Wells Fargo Auto, Toyota Financial Services, Ford Credit and more. You can even buy a car with crypto if you are so inclined. BitPay’s partners include some of the country’s biggest and most reputable car dealerships, enabling you to pay for a car in full with crypto. See our guide to paying auto loans with crypto.

Personal loans

It’s easy to use crypto to repay personal loans with BitPay, which enables payments with big-name lenders including SoFi, Marcus by Goldman Sachs, Avant, Upstart, LendingClub and many more.

Other ways to spend crypto

By now you should be getting the idea that there are almost no limitations when it comes to paying student loans or other monthly payments with crypto. But your options aren’t limited to necessary recurring expenditures like your mortgage or student loan payment. There’s a whole world of ways to spend crypto out there, and BitPay makes it easy.

Spend direct with BitPay merchants

Shop direct with hundreds of merchants who accept crypto payments through BitPay. Scroll through our Merchant Directory to find your favorite store or brand, then follow the instructions provided on each page. You’ll find top brands like AMC Theaters, Ralph Lauren, Jomashop Newegg and more.

Spend using the BitPay Card

With the BitPay Card, you’ll be able to take your crypto purchasing power wherever you go. Use it anywhere Mastercard is accepted, and take advantage of perks like cash-back and low- or no-fee ATM withdrawals around the world. It’s also free to get one of your own, and takes just a few minutes.

Gift cards

If your favorite retailer doesn’t accept direct crypto payments yet, don’t sweat it. With BitPay you can also use the cryptocurrency of your choice to purchase gift cards from a wide assortment of brands including Uber, Walmart, and more.

Different ways to use the BitPay Wallet app

The BitPay Wallet is the only crypto app you need to buy, store, spend, and swap your digital portfolio.

Buy crypto at low rates

If you want to save money, it’s best to shop around for the best possible rates when purchasing crypto, but doing so every time you buy takes time and effort. Through its extensive partner network, BitPay does the work for you to ensure you always get the best available price. With our “Best Offer” feature, accessible either through the website or in the BitPay Wallet app, you’ll be presented with multiple offers, all with no hidden fees or excessive markups. All you have to do is pick whichever offer looks best and you’ll be brought to one of our trusted partner sites to finish the transaction.

Store with self-custody

The BitPay Wallet is self-custodying, meaning nobody but you will ever have access to your private keys or the crypto-assets they help protect. For crypto users who prioritize wallet security, self-custody is the preferred solution.


Whether you’re paying directly with crypto at your favorite retailer, making crypto payments on student loans or other bills or buying gift cards with crypto, the BitPay Wallet has you covered. Even if you aren’t a BitPay Wallet user you can still make crypto buys and have them sent to any self-custody wallet through the BitPay website.


If you want to take part in a blockchain project or join a crypto community that interests you, chances are you’ll need some small amount of the respective ecosystem’s native crypto token. For instance, if you want to dip a toe into the passive income earning possibilities accessible through the decentralized finance (DeFi) ecosystem, you’ll need to hold some Ethereum or another compatible cryptocurrency. Maybe you’re interested in joining a more niche community powered by a smaller, lesser-known crypto token. It used to be you’d have to exchange fiat for a big-name coin like Bitcoin, then exchange that for the smaller token. But within the BitPay app, you can instantly exchange almost any cryptocurrency for any other, with hundreds of swapping pairs available.


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