A COLLEGE in Bali, Indonesia is allowing its students to pay their tuition fees in coconuts, which the institution is then using to create a range of health and beauty products.
The Venus One Tourism Academy said initially the downturn caused by COVID-19 had seen the introduction of an instalment program for fees, but this has now evolved to the coconut-based payment plan.
"We've been producing virgin coconut oil (VCO) and we try to get them involved during the production process by paying their tuitions with only coconuts," said a spokesperson for the academy in Tegalalang.
Other medicinal ingredients are also valid for the payments, including "moringa leaves" and "gotu kola" which are used to make herbal soap.
Students are also encouraged to develop their own skills in entrepreneurship by reselling their own products.
"We have to educate them to optimise the natural resources in their surroundings," the spokesperson said.
"That means when the pandemic is over, they will be more than just common workers," he added.
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