Entrepreneur Pays $100,000 to Drop Out of College

SEAN NGUYEN

Staff Writer

One of the greatest concerns today’s high school students have is attending college.  Questions such as where to go, what to learn and how to pay for college plague the minds of students across the nation. However, after all the hard work students put into attending college, would you accept $100,000 to drop out?

Billionaire entrepreneur Peter Thiel does not agree with the idea that a higher education is worth the cost. To prove his point, Thiel began offering large sums of money to college students to drop out of college and pursue their own ideas and goals.  According to Thiel, college is not necessary to become successful economically and that, unless students have defined a long term plan, students will not likely pay off their debts.

“They didn’t have long-term plans about what they wanted to achieve in their lives,” Thiel said in an interview with CBS news. “I think the educational system has become a major factor stopping people from thinking about the future.”

Using his own money, the German-born American entrepreneur chose 20 candidates and gave them $100,000 to skip college and pursue their own goals over a period of two years.  He calls this select group of individuals the Thiel Fellowship. According to the fellowship’s website, Thiel Fellows are also connected to a network with other entrepreneurs, scientists and investors who will mentor them in ways not available in a typical university setting.

“So many students are not getting the jobs they need to repay their debts,” Thiel said. “My program is not—does not involve charging people a quarter of a million dollars.”

Although the process of going to college is becoming much harder, some students at AHS still believe that the value of a quality education is irreplaceable.

“In the long run, college is more of an investment in your future than $100,000 would be,” senior Daniel Castaneda said.

Others expressed the belief that, ultimately, the benefits of the Thiel Fellowship are dependent on the individuals that enter the fellowship and how they subsequently apply themselves.

“The fellowship is really applicable to only a select group of people,” teacher Nancy Padilla said. “It is a great portal for those who are motivated and self-disciplined enough, but it may not be as helpful for anyone without the proper training, degree or mindset.”