Elon Musk is building his own 'tuition-free' university with $100 million

Elon Musk has pledged $100 million to build a university in Austin, Texas that will be 'dedicated to education at the highest levels'.

1 minute & 58 seconds read time

Tesla and SpaceX CEO Elon Musk is planning to fund the construction of a university in Austin, Texas, according to tax filings obtained by Bloomberg.

Elon Musk is building his own 'tuition-free' university with $100 million 948

The upcoming educational institution has been gifted $100 million of seed money and, per the tax filing, will concentrate efforts on STEM programs in both primary and secondary school.

The organization behind the project is currently seeking accreditation from the Georgia-based Southern Association of Colleges and Schools Commission on Colleges, explaining that the new university will employ "experienced faculty" and include a traditional curriculum that is backed by learning experiences through "simulations, case studies, fabrication/design projects, and labs."

It's expected that the new university will continue to get funding through Musk's charity called The Foundation, which he put $2.2 billion worth of Tesla stock into last year. Bloomberg reports that the new university "intends to be tuition-free," but may charge tuition and offer need-based scholarships. The filing states that students will be selected on merit, and the university doesn't "guarantee admission to foundation trustees, officers, employees or their family members," per Forbes.

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NEWS SOURCE:forbes.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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