Considering opening a nonprofit peer-to-peer lending platform to lend Lambda School (and other) students the cash to pay for living expenses while they study. “Profits” would be reinvested in other students.
$20k for code bootcamp + $10k for living expenses while taking bootcamp and getting a job
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Love the way you are rethinking the education space. I think a lot of progress will come from financial innovations. Seems like what you really need is some kind of stock market for human capital or something. I don’t understand exactly how what you’re describing would work
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Why would someone want to lend to a student? As like a charitable thing? What happens if they can’t pay back?Is there any profit potential / tax deduction / incentive for the lender?
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tax write-off when donating to nonprofit
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Becoming a non-profit they qualifies for tax deductible donations takes a lot of time / work / legal consultation, I think? Seems like there needs to be a stronger incentive to build a healthy system
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Imagine if the government created a security that represented 5% of the income of an individual, bundled these up by age and sold to investors to fund education and living expenses. Not a fully formulated idea, but kind of gets you thinking
End of conversation
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