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Thiel Fellowship Pays Students to Leave School, Develop Ideas

May 25, 2011

by Alexis Mattera

Thiel Fellowship Pays Students to Leave School, Develop Ideas

Here at Scholarships.com, all of our resources are geared toward helping students prepare for and afford college educations...not leave them behind. That being said, this new award probably won’t be popping up in our database any time soon.

Peter Thiel, the co-founder of PayPal and the first outside investor in Facebook, announced the inaugural recipients of the Thiel Fellowship, a program that will bestow 24 students with $100,000 each to not attend college for two years and develop business ideas instead. The driving force behind the fellowship is Thiel’s concern about the “irrational” increase in cost and demand for college educations and his belief that certain students would learn more by leaving school than continuing traditional coursework.

Not surprisingly, heated debates have erupted in academic circles – William K. Aulet, managing director at MIT's Entrepreneurship Center, believes the fellowship is sending the wrong message, stating, "To say that you're better off dropping out of school is a gross generalization." – but the fellowship winners have a different outlook: At least two recipients have expressed interest in returning to school at the end of the fellowship and one prospective winner turned down the deal entirely to enroll at MIT, which signals traditional education is still valued.

What do you think about the Thiel Fellowship? Would you be more than willing to apply and leave school if selected or would you prefer to continue your education in the classroom instead?

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

Discuss

Share your thoughts and perhaps thousands of students will benefit from your unique insight on the subject!



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