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6. Thiel Fellowship

Deadline: December 31, 2014

Amount: $100,000
Created by Peter Thiel through his Thiel Foundation, the Thiel Fellowship was originally created to encourage breakthrough innovation. The fellowship offers students under the age of 20 a no strings attached award of $100,000 over the course of two years. Award winners forgo college in lieu of pursuing their own goals, be it starting their own business, inventing, or even scientific research. Selection for the fellowship is highly competitive, and only 20-25 fellows are chosen each year. Not exactly the typical college scholarship.
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