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AustenAllred's profile
Austen Allred
Austen Allred
Austen Allred
Verified account
@AustenAllred

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Austen AllredVerified account

@AustenAllred

CEO @LambdaSchool (YC S17): A CS education that's free until you get a job. I have made remarks that I do not agree with.

San Francisco, CA
lambdaschool.com
Joined December 2010

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    1. Whiskey Raccoon‏ @peixianw Jun 30

      https://www.theatlantic.com/education/archive/2018/06/an-alternative-to-student-loan-debt/563093/ … lmao indentured servitude

      1 reply 0 retweets 1 like
      Show this thread
    2. Whiskey Raccoon‏ @peixianw Jun 30

      also this reads like some weird apologetic piece papering over how shitty unaccredited institutions can be, did we seriously forget about ITT already

      1 reply 0 retweets 0 likes
      Show this thread
    3. Austen Allred‏Verified account @AustenAllred Jun 30
      Replying to @peixianw

      If that’s indentured servitude what are student loans?

      1 reply 0 retweets 0 likes
    4. Whiskey Raccoon‏ @peixianw Jun 30
      Replying to @AustenAllred

      government backed monetary vehicle to enable students to gain knowledge at (usually) accredited institutions, where classes can generally be transferred between one institution and others?

      1 reply 0 retweets 0 likes
    5. Austen Allred‏Verified account @AustenAllred Jun 30
      Replying to @peixianw

      I can take out $200k of student loans to study American Sign Language at the University of Phoenix. Good to hear that accreditation solves all the problems.

      1 reply 0 retweets 1 like
    6. Whiskey Raccoon‏ @peixianw Jun 30
      Replying to @AustenAllred

      if the University of Phoenix shuts down and I was a student, my classes transfer to another university, I’m not on the hook for my loans there, etc. Accreditation is hardly a panacea, but it’s hell of a lot better than the wild west of education

      1 reply 0 retweets 1 like
    7. Austen Allred‏Verified account @AustenAllred Jun 30
      Replying to @peixianw

      The problem isn’t not getting a degree, it’s getting a worthless degree. If a school with an income share agreement shuts down you never pay them anything. If you don’t get a job the school with an income share agreement gets nothing.

      1 reply 1 retweet 2 likes
    8. Whiskey Raccoon‏ @peixianw Jun 30
      Replying to @AustenAllred

      I’ll take you for your word that when a income share agreement terminates you’re released from your debt obligations, although these terms aren’t legally regulated. Bootcamps don’t solve the worthless degree issue, unless “not offering humanities degrees” is a solution

      2 replies 0 retweets 0 likes
      Austen Allred‏Verified account @AustenAllred Jun 30
      Replying to @peixianw

      There are no debt obligations; it’s a contract, and yes contracts are highly regulated.

      11:07 AM - 30 Jun 2018
      • 1 Like
      • E. Harding (hail Bolsonaro!)
      2 replies 0 retweets 1 like
        1. New conversation
        2. Whiskey Raccoon‏ @peixianw Jun 30
          Replying to @AustenAllred

          I’m skeptical of this, although willing to change my mind. Most income share agreements that I know of through colleges have been done on a ad hoc basis (like Perdue’s). I couldn’t find any USC corresponding to regulations on bootcamp ISA’s, could you point me to an example?

          1 reply 0 retweets 0 likes
        3. Austen Allred‏Verified account @AustenAllred Jun 30
          Replying to @peixianw

          Perdue works with Vemo which seems to have about as many lawyers as any other type of role. Compliance is the hardest part, because there’s no “ISA Law” but there are dozens of others. All contracts are regulated by contract law, ISAs included.

          1 reply 0 retweets 1 like
        4. Whiskey Raccoon‏ @peixianw Jun 30
          Replying to @AustenAllred

          There aren’t specific provisions regarding deferment or forbearance though, correct? Contract law is regulated, but using that as a jump to say “ISAs are regulated” feels far too close to ITT’s policies for comfort.

          1 reply 0 retweets 1 like
        5. Austen Allred‏Verified account @AustenAllred Jun 30
          Replying to @peixianw

          That’s a part of the ISA, and everyone uses the same template

          0 replies 0 retweets 0 likes
        6. End of conversation
        1. Austen Allred‏Verified account @AustenAllred Jun 30
          Replying to @AustenAllred @peixianw

          Students go to bootcamps to get a job. An income share agreement says that if you don’t get a job the school doesn’t get paid and you don’t pay tuition. A university may be more than just “I want to get a job,” but there’s clear data that’s what most students go for

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