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Tesla CEO Elon Musk, who resides in Texas, is aiming to revolutionize education with plans to establish a new university in Austin.
The news has been revealed via recent tax filings.
The institution, which remains unnamed for now, will commence operations as a primary and secondary school, emphasizing science, technology, engineering and mathematics (STEM) subjects. Funding for this innovative venture comes in the form of a substantial $100 million donation from Musk's charity, The Foundation, supplemented by student tuition fees, according to reports from Bloomberg.
The school's scope goes beyond traditional boundaries, offering both on-site education for local students and remote learning opportunities facilitated by distance education technologies. Initial enrollment targets 50 students, with admission criteria prioritizing traits such as academic curiosity, discipline, independence and innovation.
As the school gains traction and proves its efficacy, there are ambitious plans for expansion into a full-fledged university. The filing details the intention to seek accreditation from the Southern Association of Colleges and Schools, Commission on Colleges, signifying a commitment to meeting rigorous educational standards.
While the exact tuition costs remain undisclosed, the filing assures prospective students of financial assistance opportunities. The institution is actively in the recruitment phase, searching for an executive director, seasoned teachers, and administrators to contribute to its vision.
Austin, already a hub for academic excellence with the University of Texas, is poised to welcome Musk's groundbreaking educational initiative.
This venture marks Musk's second foray into the realm of education. He previously founded the Astra Nova School, now an online-only institution catering to students aged 10 to 14, demonstrating his ongoing commitment to shaping the future of learning.