Elon Musk has pledged to invest $100 million to build a new university in Austin, Texas (USA), with a commitment to “free tuition”.

Elon Musk has pledged to spend $100 million to build a tuition-free university in the US. Photo: AFP
The billionaire CEO of SpaceX and Tesla, Elon Musk, has pledged to invest a huge amount of money to build a new university in the US.

The special thing is that students attending this school will receive tuition exemption, according to Tweak Town.

Elon Musk’s new university will focus on education at the highest level, from elementary to high school, and place a special emphasis on STEM (Science, Technology, Engineering, Mathematics) programs.

From information published in tax records, this project has received $100 million in “seed” money from Elon Musk.

The new university will focus on using “experienced lecturers” and applying traditional teaching methods.

In addition, students are also supported by modern learning methods such as simulations, case studies, manufacturing/design projects, and laboratories.

The school’s main source of funding comes from Elon Musk’s charity, The Foundation. Last year, he invested $2.2 billion in Tesla shares into this organization.

It is expected that the school will continue to receive funding from The Foundation and plans to waive tuition for students.

However, it can still charge tuition and provide scholarships to students based on need.

Students will be selected based on merit, and the school does not guarantee admission through connections, according to Forbes.