Texas transplant Elon Musk is planning to start a university in Austin, according to tax filings for one of his charities first reported by Bloomberg News.
With a $100 million donation from Musk, the nonprofit organization The Foundation intends to establish and open an Austin primary and secondary school that will teach math, science, technology, and engineering. According to the filing, the school will concentrate on establishing a university once it is fully operational. In order to open for business, the school must first apply for accreditation from the Southern Association of Colleges and Schools Commission on Colleges.
The university would instruct students in person “as well as using distance education technologies,” according to the filing made public by Bloomberg. It anticipates scaling up with time, starting with 50 students enrolled.
The filing also says that if a student is not able to pay tuition or fees, the school might provide financial aid; however, donations would be the school’s main source of funding. It is currently hiring executive directors, teachers, and administrators, according to the filing.
The announcement of the official fall 2024 opening of a second new private school in Austin, the home of the esteemed University of Texas at Austin and several other private universities, coincides with Musk’s proposal to create a new university in the city.
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