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While this program could be useful to many students, it's a loan program. > Upon completion of the program, students will pay 10% of their salary for a five ye
by hkdobrev 8y ago
While this program could be useful to many students, it's a loan program.
> Upon completion of the program, students will pay 10% of their salary for a five year period once they're making at least $50,000 per year. The max possible payment is capped at $50,000.
- austenallred 8y agoIt’s an income share agreement, which is quite different than a loan, and you only repay if you get hired making $50k 94 more. And it’s also a school that’s run quite differently than other schools out there. We have to do everything differently from first principles to make this work. If your point is “the $2,000 isn’t free” then yes you’re 100% correct.
- Nasrudith 8y agoThat brings to mind the literal classical lawyer joke/logic exercise Paradox of the Court. https://en.m.wikipedia.org/wiki/Paradox_of_the_Court https://en.m.wikipedia.org/wiki/Paradox_of_the_Court Paradox of the Court. I suspect the $2k could suffer from a free-rider problem from those who never intend to acquire such a job - especially in low cost of living areas with few jobs but unwilling or unable to relocate. Ideally it wouldn't make sense to do so.
- jasonsbarr 8y ago10% of a $50k net salary is far less than my student loan payments would be out of that same net salary.