People saying Lambda School’s model is the same as loans in Britain. Britain: Payments once making over £25k, 3-7% interest, forgiven after 30 years, taxpayers pay school if default. Lambda: Payments once making £ 38k, no interest, forgiven at 5 yrs, school makes $0 if default
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Suppose there are two schools. One only gets paid if you get and keep a great job, the other gets paid no matter what. Which do you suppose will be more interested in your career success?
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Imho "only software engineers" is like "only factory machines builders" during industrial revolution.
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no wonder so many machines blew up and killed people during the Industrial Revolution, if building them was the software engineering of its day
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When the UK changed its fee model that approach was widely discussed but the general opinion was (1) universities teach non-"trade" subjects where it didn't make sense and (2) it would disincentivize important but less well paid careers (teaching, social work, etc)
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It is a great change in education. Much needed. Change is coming.
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'Passing the bill' worked for ITT. There was *no accountability for the company when the graduates didn't get a 'good paying job'. That's when the taxpayer got hit, b/c loan defaulted. ITT kept $$. Putting the financial cost on the school is as it should be.
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