Palm Beach, Florida - Donald Trump has unveiled his new plan to start an online university if he manages to win re-election in 2024.

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On Wednesday afternoon, Trump shared details about his new project, called "The American Academy," which he said is an effort to remove "wokeness or jihadism" from the US education system.

"We spend more money on higher education than any other country and yet, they're turning our students into communists and terrorists and sympathizers of many, many different dimensions," Trump said in a video. "We can't let this happen."

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The academy would grant credits to new students from their past institutions, and graduates would receive help to find government and federal work.

Trump said he would use the federal government to help create and fund the academy, which will be tuition-free, by taxing large private university endowments, a move that could win support from conservatives.

This isn't the first time Trump has tried to create an educational institution. From 2005 to 2010 he ran Trump University, which offered a real estate training program costing students $1,500 for a three-day seminar, or $35,000 for an in-depth mentorship program, according to Politico.

In 2017, Trump was found guilty of fraud for the institution, and ordered to pay a $25 million settlement to students.