Thank you, Pete. I’m losing energy to keep expanding on this, so I really appreciate the assist. You summed up underlying issue, beautifully, here. It’s not so different from the pre-2008 0% down mortgage scheme that preyed on low income folk, and launched us into a recession.
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We’ll put more data and stories on the site. Most DON’T have experience and DON’T have degrees, most STILL making $80k+. Only $50k jobs we have now are in very rural areas.
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It's instructive that you're willing to potentially screw over folks in big cities to make sure you don't /maybe/ lose a few bucks on people in rural areas. Especially when you're wringing so much financing profit out of these deals.
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Pete, Elisabete, this is where the problem actually clicks for me. Thank you both for doing the work to change my mind. If the business relies on any number of humans getting into unlivable repayment situations, it's garbage. Hoping Lambda acts on the feedback they got this week.
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Again, no Lambda School students get into unlivable payment situations
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I'm open to having my mind changed again when you guys do post more details on your cohort and the results. Given the terms as published it does seem that Lambda is indifferent to bad outcomes, and does not explicitly prevent them. But I do believe you *can* lead the way on this.
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If we put students in situations where they can’t pay they won’t pay us, it’s that simple. We also have options to defer payment should they be necessary, but we’ve never had to use them. Will update the outcomes page today. Most students have no degree/experience, $82k med sal
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Good! I think people are seeing this as a machine that does not have the flexibility you describe. Showing how a person making $50k could pause, reduce, or defer payments if needed might reform the impression that you insist on $8500 out of $50k even if it induces hardship.
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The thing the people in this thread don’t understand is those aren’t things you shout to the world or they’re abused, but we know and work with the financial situation of every student, and again, the only people who have received $50k jobs are in rural areas
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This human element is missing from your website, as is the scholarship afaik. People have been burned a lot, horribly, by legitimate-looking for-profit education. I see how people got the idea they have by calculating from your published terms & materials.
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