Don't go to college, do get $100,000
The winners were announced today for a new fellowship that has sparked heated debate in academic circles for questioning the value of higher education and suggesting that some entrepreneurial students may be better off leaving college.
Peter Thiel, a co-founder of PayPal, will pay each of the 24 winners of his Thiel Fellowship $100,000 not to attend college for two years and to develop business ideas instead.
The fellows, all 20 years old or younger, will leave institutions including Harvard University, the Massachusetts Institute of Technology, and Stanford University, to work with a network of more than 100 Silicon Valley mentors and further develop their ideas in areas such as biotechnology, education, and energy.
More than 400 people applied for the fellowship, and 45 of them were flown out to San Francisco in late March to present their ideas to Thiel's foundation and the network of Silicon Valley mentors.