What is a college education really worth?

Naomi Schaefer Riley:

Did Peter Thiel pop the bubble? That was the question on the minds of parents, taxpayers and higher education leaders late last month when the co-founder of PayPalannounced that he was offering $100,000 to young people who would stay out of college for two years and work instead on scientific and technological innovations. Thiel, who has called college "the default activity," told USA Today that "the pernicious side effect of the education bubble is assuming education [guarantees] absolute good, even with steep student fees."

He has lured 24 of the smartest kids in America and Canada to his Silicon Valley lair with promises of money and mentorship for their projects. Some of these young people have been working in university labs since before adolescence. Others have consulted for Microsoft, Coca-Cola and other top companies. A couple didn't even have to face the choice of putting off college -- one enrolled in college at age 12 and, at 19, had left his PhD studies at Stanford to start his own company.

Of course, Thiel's offer isn't going to change the way most universities do business anytime soon. These 24 kids represent the narrowest swath of the country's college-bound youth. (Though it's important to note: When we talk about America having the greatest system of higher education in the world, these are the kind of people we're bragging about.)

Posted by Jim Zellmer at June 7, 2011 1:28 AM
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