Bangalore: Several educational pundits and successful investors indulge in the grueling debate about the importance of college in the life of an entrepreneur. While many tech giants still hold a good value for the degree certificate, several experienced players in the market deny the weightage of higher education and encourage youngsters to get into the market, counting only upon the required skills.

Peter Thiel, one of the earliest investors in the giant social network Facebook, and a well known Venture capitalist from Silicon Valley, is funding 24 entrepreneurs with $100,000 who are willing to drop out of colleges and start their own companies. A detailed scrutiny conducted by Forbes about sticking on to or dropping out enlightens the various facets of this age old argument.

So should you drop out or stick on to the degree? Let us take a look.

What Peter Thiel tells the companies?

The billionaire VC seems to build a growing concern for students who go under huge debts for a long period of their career due to the loans taken for higher education. “When you hire people, stop requiring college degrees. If you need skills, knowledge, or talents, ask for them specifically, since a BA doesn’t guarantee these things. Review your hiring practices over the next six months, and let’s move toward reducing the demand for student debt and useless credentials by letting extraordinary young adults skip college. If we replace this requirement with more relevant measures, then colleges can focus their efforts on providing skills and knowledge for actual careers,” says Thiel, as reported by Forbes.