Store credit option?

We sell classes on our website and have frequent drop-outs. Rather than offer refunds, we offer class credits. I've been using discount codes for these, but sometimes they want to use partial amounts of their credit towards a class purchase. Is there any way to provide a credit to a customer where they can make multiple purchases until their credit amount runs out - similar to how a gift certificate works, but I don't want to pay for each person to have a gift certificate 😅

Nearly a year has passed with no further activity so I wonder whether this has been resolved in another thread somewhere.  I'd be interested to know as I am looking at something very similar, but to do with the actual CSS behind the Gift Certificate naming.

I have a client who is looking to sell 'Store Credit' on their site so that people can purchase a variable amount of store credit that can then be applied to their account and enable them to purchase items using their credit balance.  I guess this would be similar to gift cards/certificates or vouchers.

I have two questions really;
1) can this be done?
2) can the description be Store Credit?  As in within the CSS can the code be updated to reflect Store Credit instead of the default value.