Any time you can underwrite credit and there’s no risk of losing there WILL be a bubble. Usually only the government is insane enough to guarantee such a program. Everyone else would go bankrupt overnight.
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Have you seen CLIMB, they have the school act as the backstop instead of the government - because they mostly work with unaccredited programs. They are in NYC if you want an intro.
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Yup, Lambda School trains people for free in exchange for a share of future income
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I know that. We had a call two weeks ago ;)
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Lol so hard to connect twitter to real life
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It is crazy to me that the government assumes all the risk on these loans while the schools get richer, constantly raise tuition, and defer all risk. Bad model.
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It gets worse when you look at what the schools spend the money on. Sports. Marketing. Administration.
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Not to be too pedantic, but the deal was Fannie Mae was *not* backed by the gov't but everyone *assumed* it was. It was how they could sell loans for more than they bought them for (I always wondered about that). But in the end, gov't HAD to back them.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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