Summary #1 & #2
Thiel Fellowship Pays 24 Talented Students $100,000 Not to Attend College
The Thiel fellowship headed by, Peter Thiel, a co-founder of Pay Pal, gave 24 college students a scholarship and paid them 100,000$ each to leave their traditional college education and join a business ideas development camp. Out of the four hundred applicants, the winners were aged between 20 years and younger and left institutions like Harvard University, Stanford University and the Massachusetts Institute of Technology to work with their 100 plus Silicon Valley mentors and further their knowledge in fields like energy, biotechnology and education. Mr. Thiel, an outside investor in Facebook, was impressed by the quality of the candidates and stressed that he is not helping the students in order to draw returns from them, however he hopes that the fellows shall learn more in their research camps than they would have learnt if they had stayed in school. One of them declined the offer and accepted to enroll at Massachusetts Institute of Technology. Mr. Thiel said that he expected applicants to decline the offer and that he would have not accepted it himself when he was in college moreover, he wished he had given more thought to the decisions he made concerning his education other than studying philosophy and law at Stanford. The Thiel fellowship and foundation seeks to help the winners develop their knowledge and skills more quickly that they would while in college and questions the irrationality of the increase in the cost of education since students incur heavy debts that they may not be able to set off for the rest of their lives. His critics argue that the idea of leaving school to develop one’s talents or start a business can relate to only a few students who are bold enough while Thiel argues that the low risk directions that students take by going to college shall lead to fewer innovations in the future. One of the fellows said that she wanted to take time off to develop her career even before she won the offer saying that college and entrepreneurship cannot be mixed and practicality is better than theory. MIT’s Entrepreneurship Center managing director said that academic entrepreneurship offers more facilities and exposure that is difficult to find in a normal academic setting. Another fellowship winner said that colleges take most of the credit and profits from ideas that are developed by students. The students however consider finishing their education after they are done with the fellowship.
Plan B: Skip College
The key to success in America apart from becoming a television star is not going to college since the statistics show that more than half of the people who go to college never finish. The college students who had bottom ranks in their high schools pay many school fees and end up getting nothing out of their college lives. While governments are cutting their budgets on higher education due to the question if everyone in college needs to be there, there are a few people still campaigning for it. Specially trained personnel in all fields are necessary in the near future and so are those people who help them and the numbers of this need increase exponentially as years go and the latter’s training are more feasible outside college. Research shows that bachelor’s degrees are not required for most job categories in America. Some people who have degrees who do subordinate jobs would have put better use to their money than in education as they did not need it. Professor Lerman, an American University economist says that some people would be served better if they were taught skills on how to handle job tasks than getting degrees. Community colleges are being sensitized to teach work readiness and apprenticeship, as this would increase how people master their jobs. A program in Germany that allows college students to experience jobs first hand is feeding the market with competent workers. The students should be passed through a program that shall determine who is fit for four-year college life and who is not while taking care not to make them lose hope in life. Educationists advice most children not to follow the pre-college track when their schools have better vocational education alternatives. People who have degrees earn more than those who don’t have and face lesser chances of facing unemployment. Going to college is not only about getting the education but other important life skills are acquired as well. Educationists argue that they are not discouraging people fully from entering college but first to figure out what they want to do via a pre-college exercise and then if they feel the want to pursue college they should.
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