Social Media PayPal founder is paying college kids to drop out Peter Thiel believes higher education is the next bubble to burst. So, he launched an endowment that pays college students younger than 20 to ditch school and start working. By Jackson WightmanMay 26, 2011 SHARE ABC News reports that Thiel “believes the next big thing to burst is higher education, and he’s willing to put his money on it.” Twenty-four people have been selected to participate in this program. Recipients receive $100,000 and will work on diverse projects in areas ranging from biomedicine to computers and robotics. To read the full story, log in. Become a Ragan Insider member to read this article and all other archived content. Sign up today Already a member? Log in here. Learn more about Ragan Insider.