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
-
-
And you're also willing to train nurses? teachers? Gender studies scholars? Or only workers for an highly paid industry and 0% unemployment?
-
We’ll train anyone there’s a job market for on the other side. Nurses and teachers are a no brainer. Gender studies not so much.
-
Cool! So your profile which describes lambda school as "a CS education" is no longer up to date?
-
It’s up to date right now
End of conversation
New conversation -
-
-
Unfair comparison. UK tax payer funded higher edu system provides us with vital professionals such as teachers, nurses, etc, etc, etc. Their underpaid salaries couldn't support type of system. Plus, I'm sure they would tell you they are in 'great job', but in a different way.
-
Plus a point missed in your posts; UK students only start to pay significant £ IF they become higher earners (not sure how this compares to your system). So the 3-7% interest / 30 year deadline is irrelevant for a proportion of students.
-
Our students only pay back if they’re making $50k+ in the field they studied
-
Yea I got that - but 'pay back' means very little - how much? I guess you didn't read the rest of my response either. Never mind.
-
17% of income for 2 yrs, capped at $30k, only when making $50k+
End of conversation
New conversation -
-
-
Is there a cap to what Lambda is paid if, say, someone was to graduate and land a very high salary?
-
Yup, caps out at $30k total
-
Very cool! You all are doing amazing work, I’ve never seen incentives better aligned in tech education!
End of conversation
New conversation -
-
-
I agree with what you are doing it is truly great. But for this to really change our society it needs to work for university degrees and those outside of programming. For example Law, Medicine, etc... Computer Science is the low hanging fruit as it is in demand right now.
-
Yup. It will.
End of conversation
New conversation -
-
-
The hard part for me to grasp (I teach at a private high-school) and have prepared code camps with a local software start-up I do contract work for...is that I don't understand how the model you offer (which is obviously superior) can get started.
-
Money has to come from somewhere. Debt, charging some students upfront, or VC.
-
First few years or so have to be rough. But I suppose every new venture has to be that way.
End of conversation
New conversation -
-
-
Broad stroke. It's a credit card model, you'll get money u don't have up front for an extremely inflated "interest rate", where u end up paying double the orig cost. Outcomes make great stories but it's terrible finance. Only ppl that get true cost benefit are those that fail.
-
There’s literally not an interest rate. You don’t pay hyper inflated prices, we just have portfolio theory. Kind of like insurance.
-
Insurance emotionally maybe but it's the difference between paying ~$15K vs ~$30K which is not insignificant. Not great finance granted same outcome. Idk how to think of it not like a CC model w/ 0% APR. Up to borrower/market ultimately. How much of job search is on student?
-
Lambda school is more similar to debt than equity, as far as I understand it. How much Lambda School gets paid depends on the performance of the student and not an interest rate. (By the way 0% APR credit cards make their money from late fees and missed payments - Lambda doesn’t
-
Maybe not the best comp. Still to me is a credit model where cost can fluctuate. Not bashing it as wrong, just a bad finance model when comparing alternatives. Can end up paying more for 0 up front, better success costs you more. May be the only option for many and I applaud that
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.