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i'm not affiliated, but like this model. > How do you know that your graduates are or aren't making more than 50k? How do you know that you're getting your 17%
by sigstoat 9y ago
i'm not affiliated, but like this model.
> How do you know that your graduates are or aren't making more than 50k? How do you know that you're getting your 17%?
you can ask students to fill out and sign, as a condition of admission, forms authorizing the IRS to hand over their tax returns, in advance. it wouldn't be very hard to contract with a law firm to take the results and check to see if they had more than 50k of income, while ignoring/discarding all other information.
or just have them sign a thing saying they'll do X. if they lie, they're probably committing fraud. most folks don't run around committing high dollar fraud.
> Aside from that, you're essentially giving your students a loan and then having them repay it once they start earning money. How is this any different than a regular student loan (but with way more risk on your end)?
the point of this model is to lower risk for the student, and hope that the value you're providing is sufficient to offset the additional risk you're accepting.
- busterarm 9y agoThis is essentially the same was what AppAcademy does, though they don't offer this to everyone across the board anymore (some groups have to prepay in full).
- austenallred 9y agoAlso we're 100% online, so people don't have to move to San Francisco for 3+ months.
- sunjieming 9y agoYeah, it's a similar idea with a few differences. Lambda School is six months long, online, and teaches CS fundamentals (computer architecture, operating systems, C++) in addition to full-stack web development and mobile development. Lambda School also doesn't require a deposit.
- sant_176 9y agoCould you please tell me whether its applicable in India or any other counties or not?
- austenallred 9y agoWe're working to figure that out, but first we'll start servicing more of the US applicants we have (we can only teach a tiny, tiny fraction of the willing students at this point).
- MarkMc 9y agoI think India would be much more difficult because the Indian salaries are lower and it's more difficult to take someone to court if they owe you money. (And possibly more people who underreport their income)