I love Lambda's concept. I think aligning the interests of the school with the interests of the student are a fantastic evolution, and committing to only charge students for payback in the case that they have a positive outcome is great too. That said, the "only pay us back if you get a good job" commitment seems like lip service as long as the cutoff is $50K (for software dev at least). Lambda school's team is super…
Most of our students are in rural areas where $50k is actually really good money (though this is changing). There’s not really an existing legal framework to say “if you make x in this kind of city or y in this kind of city.” Certainly, in San Francisco, $50k isn’t a win. Luckily our median salary there is well into the six figures. Lambda School’s income share agreement is also (to my knowledge) the only in the indu…
https://open.buffer.com/transparent-salaries/
Btw, love what you're doing. It might have helped me back when I was in a rural area. We didn't have Internet, though. So, would've been whatever I could do at libraries during narrow windows of computer use. These days it's McDonalds' Wifi for lots of folks. Do factor that into your offerings somehow if you don't already.
Good luck LS! Looks like awesome stuff you all are doing.