The entrepreneur who's paying kids not to go to college

Peter Thiel

By Allison Linn

There’s been a lot of talk recently about whether it’s worth it to go to college, given the high cost and potentially heavy student loan burden that comes with that diploma.

Now, an entrepreneur has launched a fellowship that aims to test that theory by paying people not to go to school.

The co-founder of online pocketbook PayPal, Peter Thiel, on Wednesday announced the winners of a fellowship that will pay nearly two dozen students $100,000 not to attend college for two years.

The catch? (There’s always a catch.) The 20 Under 20 Thiel Fellowship winners have to spend the time working on their scientific and technical innovations. They’ll be aided by a host of high-profile advisors who will teach the kids about disruptive technologies, mentor them and provide support and training (but don’t call it school!).

These aren’t just any 20 people, of course.

The foundation’s website said the winners include Andrew Hsu, who started at the University of Washington at age 12 and was, at age 19, pursuing his Ph.D. at Stanford when he left to work on his startup.

Darren Zhu is dropping out of Yale to pursue his interest in synthetic biology, and 19-year-old Eden Full has already founded a solar energy startup. Laura Deming enrolled at MIT at age 14 and is working on ways to extend the human lifespan by hundreds of years.

Thiel announced the fellowship plan last fall, in a press release packed with quotes from tech luminaries who extolled the virtues of dropping out.

Thiel himself seems fairly convinced that his experiment could change the world – or at least empower someone else to. In a statement announcing the contest last fall, he noted some of the major technologies that had been developed by people who dropped out of school, and predicted that his group would do the same.

“The Thiel fellows will change the world and call it a senior thesis,” he said in the statement.

 

Do you think these fellowships are a stunt, or a real attempt to debate the merits of a college education?

Results with 45 short comments
Total of 7,163 votes - click on the "Display Comments" bar below to sort comments

30.9%
It's a great way to start debate about the value of college
2,216 votes
61.4%
It's a stunt - these people don't represent most college students
4,397 votes
7.7%
It's too early to tell
550 votes
Display Comments:
It's a stunt - these people don't represent most college students

This is a sham because you'll notice that only students who are citizens of other countries will be. It doesn't represent American Students

  • 2 votes
#1
 - wolfe426
 - 5:17 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

These are not "normal" college students. That said, too many kids use college as a excuse to stay drunk for 4+ years and avoid growing up.

  • 4 votes
#2
 - howitis-1710173
 - 5:18 pm EDT on Wed May 25, 2011
It's too early to tell

Some of these 20 somethings will do tatoo or bong design. LOL Fire the college President's for this serious over pricing.

  • 2 votes
#3
 - Yank-957120
 - 5:42 pm EDT on Wed May 25, 2011
It's a great way to start debate about the value of college

I think college is overrated. I'm in debt up to my eyeballs and no it wasn't worth it.

  • 10 votes
#4
 - Brenda-251440
 - 5:47 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

Though a stunt, it does help spark an important debate at a time of skyrocketing educational costs.

  • 4 votes
#5
 - RonInColorado
 - 5:55 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

Some of these "kids" already have advanced degrees. And they'll get 50K a year to avoid college for 2 years, not forever. This is a stunt!

  • 5 votes
#6
 - ChrisMcK
 - 6:02 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

One has MIT degree, another was working on PhD? This should have been offered to HS grads or students not done with their Bachelors yet.

  • 9 votes
#7
 - Acharabelle
 - 6:21 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

Let's use an average student. Not someone that already has more education that most of the US. These kids are exceptional and not the rule.

  • 7 votes
#8
 - Paddleboard-1959058
 - 6:43 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

It's a great program, if you happen to be a genius!

  • 4 votes
#9
 - su-314019
 - 7:15 pm EDT on Wed May 25, 2011
It's a great way to start debate about the value of college

The years lost may not be regained by most individual students, as these are the most impressionable in life.

  • 1 vote
#10
 - Jaya Sarma Gujral
 - 8:27 pm EDT on Wed May 25, 2011
It's a great way to start debate about the value of college

It ia a great way to start debate about the value of college but yes these people don't represent most students, through in a few regulars.

  • 4 votes
#11
 - JP. Toronto
 - 9:05 pm EDT on Wed May 25, 2011
It's a great way to start debate about the value of college

Student loan bubble will be the next big bubble to burst. Big scam by schools to get money by increasing student debt.

  • 6 votes
#12
 - government is always the answer :P
 - 9:27 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

Yep, look at all the COLLEGE STUDENTS/GRADUATES this turkey is offering $100,000 NOT TO GO TO COLLEGE. Whatttt,,,,,,,,,Complete JOKE !!

  • 5 votes
#13
 - ldo
 - 9:38 pm EDT on Wed May 25, 2011
It's a great way to start debate about the value of college

I have developed a way to cut out 20% of the total world use of 13 gallon household garbage bags. 20% less landfill and savings. Contact me

  • 2 votes
#14
 - Chexter
 - 10:02 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

If people of this caliber are taking 50k a year they are underachievers!!!!!

  • 1 vote
#15
 - Benzzo76
 - 10:07 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

I think this is ridiculous. Technology is mostly developed by the educated, not guys in their basements.

  • 1 vote
#16
 - Anarun-729769
 - 10:15 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

these students are contradicting what the study is all about they already have college educations therefore, the study is invalid

  • 5 votes
#17
 - girl in california-3526999
 - 10:31 pm EDT on Wed May 25, 2011
It's a stunt - these people don't represent most college students

Chosen few. Did these students ever have debt? He would never have given it to even straight-A's students. No altruism here!

  • 3 votes
#18
 - rjbbvcm
 - 10:42 pm EDT on Wed May 25, 2011
It's a great way to start debate about the value of college

To many jobs require a certain level of college to work there. But in reality, short term OJT would benefit the job more.

  • 3 votes
#19
 - Barque
 - 10:50 pm EDT on Wed May 25, 2011
It's a great way to start debate about the value of college

Thank you Theil; most of the college education is stifling the students creativity, put too much financial burden, with whimsical results.

  • 3 votes
#20
 - nazar younis
 - 11:26 pm EDT on Wed May 25, 2011
It's a great way to start debate about the value of college

Let's not forget that Bill Gates is a college drop out. Opportunity and hands on may prove to be the way of the future.

  • 3 votes
#21
 - Tyrone E.
 - 11:41 pm EDT on Wed May 25, 2011
It's a great way to start debate about the value of college

Making money--good money--does not require a college degree...it requires know how...money savy.

  • 1 vote
#22
 - A Citizen-2845164
 - 1:18 am EDT on Thu May 26, 2011
It's a stunt - these people don't represent most college students

Even though this is a stunt, college has become less and less necessary. It is especially important to avoid student loan debt.

  • 5 votes
#23
 - magnets
 - 2:43 am EDT on Thu May 26, 2011
It's a stunt - these people don't represent most college students

Tell an average person not to go to college and hand them $100k...see what happens then!

  • 3 votes
#24
 - Dustin-265090
 - 3:21 am EDT on Thu May 26, 2011
It's a great way to start debate about the value of college

The academic world is as ossified and corrupt as any other traditional organization. This seems like a great way to spur innovation.

    #25
     - Will to Power
     - 4:02 am EDT on Thu May 26, 2011
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