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AustenAllred's profile
Austen Allred
Austen Allred
Austen Allred
Verified account
@AustenAllred

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Austen AllredVerified account

@AustenAllred

CEO @LambdaSchool (YC S17): A CS education that's free until you get a job. I have made remarks that I do not agree with.

San Francisco, CA
lambdaschool.com
Joined December 2010

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    Austen Allred‏Verified account @AustenAllred Mar 1

    Want to rock the higher education space? Pass a law that says you are no longer eligible for federally subsidized loans if x% of students default on their loans. Pick a very generous x; let’s say 50%. Thousands of colleges go bankrupt overnight.

    9:24 PM - 1 Mar 2018
    • 23 Retweets
    • 112 Likes
    • Jon Broscious chris Francisco Gutierrez Jesus-Miguel Sumeet George Thampy Tom Vaughan TProphet npc
    11 replies 23 retweets 112 likes
      1. Austen Allred‏Verified account @AustenAllred Mar 1

        Any vaguely normal market would have killed bad colleges long ago, but they’ve been propped up by the notion that everyone needs a college degree and therefore the government will underwrite a nearly infinite amount of student loans for absolutely anything

        1 reply 6 retweets 66 likes
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      1. New conversation
      2. Travis Devitt‏ @travisdevitt Mar 1
        Replying to @AustenAllred

        Default requirements already exist. Look up CDRs. The problem is that they are measured too close to graduation.

        1 reply 0 retweets 3 likes
      3. Austen Allred‏Verified account @AustenAllred Mar 2
        Replying to @travisdevitt

        Yes, needs to be cumulative

        1 reply 0 retweets 0 likes
      4. Travis Devitt‏ @travisdevitt Mar 2
        Replying to @AustenAllred

        Yeah the way they measure Cohort Default Rates at the Dept of Edu way understates the true default rates for a cohort over their full loan term

        0 replies 0 retweets 3 likes
      5. End of conversation
      1. New conversation
      2. Travis Devitt‏ @travisdevitt Mar 1
        Replying to @AustenAllred

        Man could I blow your mind with some research I did back in 2008. Shorted for profit colleges before it was fashionable. 2nd and 3rd tier "universities" aren't much better either

        1 reply 0 retweets 3 likes
      3. Moe Abbas‏ @realmoeabbas Mar 2
        Replying to @travisdevitt

        What are the highlights from your research? I am interested. You can DM me.

        0 replies 0 retweets 1 like
      4. End of conversation
      1. New conversation
      2. Equality 7-2521  🦀 📡 🥓‏ @KetoSpeculator Mar 2
        Replying to @AustenAllred @TProphet

        Why not just abolish government involvement in student loans so that prices will come down? Less people need postmodernist neomarxist indoctrination anyway, they get more than enough in government middle/high schools. They should be learning real skills not gender studies.

        1 reply 0 retweets 1 like
      3. TProphet‏ @TProphet Mar 2
        Replying to @KetoSpeculator @AustenAllred

        That viewpoint has a place on the right wing of the Libertarian Party. You'll feel at home there.

        2 replies 0 retweets 1 like
      4. Equality 7-2521  🦀 📡 🥓‏ @KetoSpeculator Mar 2
        Replying to @TProphet @AustenAllred

        Seems like @LambdaSchool is an example of the market providing a solution to education funding, sad that it is at a competitive disadvantage because central planners meddle in the education marketplace with their stolen funds (which they call "taxes"). A distortion of the market.

        0 replies 0 retweets 2 likes
      5. End of conversation
      1. Rick‏ @nickchuckwalter Mar 1
        Replying to @AustenAllred

        I wish the government wasn't in the loan business at all

        0 replies 0 retweets 4 likes
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      1. The Almighty Pegasus Epsilon  👌🏻 ✌ 🥛 🇺🇸 🍆 🍖‏ @pegasusepsilon Mar 2
        Replying to @AustenAllred @KetoSpeculator

        Frees up a lot of money for other things, too. Like tuition at decent colleges.

        0 replies 0 retweets 2 likes
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      1. Garrett‏ @film42 Mar 2
        Replying to @AustenAllred

        Or just pursue a graduate level degree! Thanks, budget control act of 2011!

        0 replies 0 retweets 1 like
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      1.  🌊ʇᴉɯᴉl ɐɯǝɥɔs® 🌊 🤘🏼‏ @TimForgot Mar 1
        Replying to @AustenAllred @TProphet

        Direct measure of efficacy. If the education/placement is *worth* anything: near-zero defaults. Perfect. 🧐

        0 replies 0 retweets 1 like
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      1. Rick‏ @nickchuckwalter Mar 1
        Replying to @AustenAllred

        PREACH IT

        0 replies 0 retweets 1 like
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      1. Travis Devitt‏ @travisdevitt Mar 1
        Replying to @AustenAllred

        They also aren't cumulative, they are a point measurement

        0 replies 0 retweets 1 like
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      1. Ryan Hamblin‏ @RyanleeHamblin Mar 2
        Replying to @AustenAllred

        It’s not just eduction either! Our entire banking institution is built on the premise that people will fault. If the only way to succeed is by ensuring a chunk of people fail, your model is corrupt and immoral!

        0 replies 0 retweets 0 likes
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