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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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?
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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
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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
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