Thanks all for the overwhelming response.

Going by today's rate on MTGOX 50 coins($40,000) are sufficient to fund my education.

I am ready to pay taxes and follow all the rules. But I am from a country outside US.

Even if I convert the bitcoins into USD in which account will I get the money. Do I need to have a local bank account in US?

First of all I need to raise 50 bit coins. Where can I find some one or group of people who are willing to donate this much amount.

Can Bit coins be converted to USD. I need to convert 50 bit coins to USD. Is it possible?