Thiel, who is PayPal's co-founder and holder of two Stanford University degrees, says higher education today is in a "crazy bubble" that, like a bad mortgage, saddles students with tuition debt often for little in return. A vocal libertarian, Thiel, 44, takes the view that a college degree can be harmful to innovators because of the conservative, career-driven mindset it imparts.

"Youth have just as much intelligence and talent as older people," says James O'Neill, head of the Thiel Foundation and managing director at Thiel's investment fund, Clarium Capital. "They also haven't been beaten down into submission by operating within an institution for a long time."

Thiel has attracted critics for his anti-higher-education message. After all, not every young person is like Deming, a home-schooled prodigy who learned calculus at 11 and sought experience in a cutting-edge genetics lab at 12. That's where she first had a chance to explore the science of extending the human lifespan, an idea she's now hoping to turn into a business.