If you know anyone that would like to contribute or help us get it set up DM me (they're open) or email austen at lambdaschool dot com
-
-
Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Can it meet 501c3 requirements? Might be an option for third party donors.
-
Should be able to. Haven't set it up yet.
-
If you are only giving out the loans to lambda school students I doubt the IRS will agree, it would need to be open to finding living expenses of qualifying students who choose other paths too, no? Otherwise just subsidy to complement of for profit. (Not an accountant)
-
It won’t be used for student tuition, it’s just a low cost way to cover living expenses while in school. It won’t affect the revenue earned by us except that students won’t have to drop out due to homelessness
-
I'm not questioning the motivation. I'm just pointing out the tax authority might have issues with it being tied to consumption of a specific for profit provider if you want the tax exempt status
-
I understand what you’re saying but the tax code doesn’t make that case. It says it can’t benefit one “individual” but it doesn’t have any limitations I can think of that would stop, for example, a school for using it for the benefit of its students only
-
Imagine if a specific brand of tenis racket maker stayed a non profit to give subsidized tennis balls to underprivileged buyers of its rackets...
-
Or what if a for profit school started a nonprofit scholarship fund to help its students, like happens in nearly every school in the US? All 501c3
- 8 more replies
New conversation -
-
-
I understand why it might seem innovative. But this effort isn’t aligned with the problem. That’s a loan, and the students really at risk here won’t accept the terms. This isn’t a new idea, unfortunately.
-
What would you suggest?
-
We have written a ton on what to do, you can find loads of resources online from my team, and we host an annual convening on this topic too. But far better: Emergency aid. Grants, period. Save the loans for students not at risk.
-
Important context here: Lambda School runs fully on an ISA, so no students pay us anything until they’re making more than $50k/yr Our students are not eligible for traditional loans We kind of have our own FAST fund already, but it’s all been out of my pocket
-
In other words the reason I’m concerned about a grant is that we’re already so heavily leveraged that we don’t have enough cash to give out as grants. I think a handshake agreement to pay back into the fund when you can is 100% reasonable, as our grads all make $80k+
-
Given how uncommon your students are (accepting ISAs!) I’m sure that’s fine. If you aren’t concerned about impacts on the rest of Higher Ed.
End of conversation
New conversation -
-
-
Is this specifically for lambda students?
-
Yes. We need to understand who we’re investing in/lending to, and we can understand that because we’re the school
-
So you think
@davidsirota's wrong about Bernie's college-for-all plan simply because he once wrote an article for Salon about Chavez? Try this then:pic.twitter.com/qvLT7tRMT3
-
I think he’s wrong that subsidizing college at its current level of tuition is a good idea, yes. I don’t think the government should be paying $40,000/yr in tuition
-
So you would rather the government spend an equivalent amount to incarcerate a low income person who committed a crime they might otherwise not have if they had an opportunity to go to college instead?
-
Hmmm not sure those things are mutually exclusive. I definitely think there’s a better way to do things. Thanks for the chat
- 1 more reply
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.