At the same time that the Institute for Higher Education Policy (IHEP) is paying $1.3 million to help people who don’t quite have a college degree earn the extra credits they need, one technology entrepreneur is saying the hell with it. If you’ve got a better idea, just skip college.

According to a piece in Tech Crunch:

[Clarium Capital President Peter] Thiel is starting a new initiative that will offer grants of up to $100,000 for kids to drop out of school. Yes, you read that right. Though that’s not how Thiel puts it. Instead, he calls it “stopping out of school.”

The basic gist is that he will fund up to 20 kids under the age of 20 who apply for this grant.

Apparently Thiel, whose personal fortune is in the nature of $1.1 billion, will be considering “stopping out” applications through the end of the year.

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Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer