Earlier quoted context omitted.
Saying nothing was an option.
Why would you prefer he say nothing? As long as he’s not misleading people I don’t see what the harm of commenting is.
Spinning a negative as a positive is misleading at best.
Lambda School agrees to end deceptive educational financing practices
61–70 of 306 posts
Re: Lambda School agrees to end deceptive educational financing practices
#62Earlier quoted context omitted.
Your bizarre cheeriness in the face of "Agreeing to End Deceptive Educational Financing Practices" is offputting, especially when coupled with the way college financing has led to generational deadweight, anxiety, and hopelessness.
I'd agree with you except that in this case it seems like the "deception" was actually working against Lambda school. Previously -> if you go bankrupt you still owe us. Now -> if you go bankrupt you don't owe us. On the face of it this seems like it would make Lambda school _more_ attractive than less. Note, the clause in question is "qualified educational loan…subject to the limitations on dischargeability contained…
I'm sure the previous terms made the loans much more attractive to lenders which is helpful to Lambda. It would be most useful to understand who created the terms in the first place.
Re: Lambda School agrees to end deceptive educational financing practices
#63Why is it a settlement, were the regulators not sure that they violated the law and sought compromise? It sounds like "Lambda School agrees to comply with the law" which implies that doing so is optional.
The goal of regulation is compliance. Especially for new laws where the meaning may be unclear. Since the permanent harm is minimal (anyone who didn't know their loan was dischargeable, now knows and can discharge it), the informational update solves the problem.
Obviously if the defendant did not agree to comply with the law, there would be no settlement and the case would be pursued further.
Re: Lambda School agrees to end deceptive educational financing practices
#64Lambda school is a much better model for students than normal colleges.
Maybe, but stating that with no supporting information is worthless.
"Lambda school is a much worse model for students than normal colleges." Maybe? Maybe not?
Re: Lambda School agrees to end deceptive educational financing practices
#65Earlier quoted context omitted.
Your inane judginess is offputting, especially when coupled with how Lambda School is providing attractive alternative options the expensive colleges you're whining about.
I'm surprised that non-anonymous people, who rely on their salesmanship for income, are comfortable publicly embarrassing themselves like this.
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Re: Lambda School agrees to end deceptive educational financing practices
#66Earlier quoted context omitted.
I'd agree with you except that in this case it seems like the "deception" was actually working against Lambda school. Previously -> if you go bankrupt you still owe us. Now -> if you go bankrupt you don't owe us. On the face of it this seems like it would make Lambda school _more_ attractive than less. Note, the clause in question is "qualified educational loan…subject to the limitations on dischargeability contained…
It's not about being attractive, it's about ex-students not declaring bankruptcy because they think it won't remove their lambda school loans. Thus lambda school keeps getting money from them instead of getting nothing after they decide to declare bankruptcy. That clause was, in my eyes, clearly designed to discourage students from exercising their ability to clear debts via bankruptcy.
Yep, it's about "Human Capital: The Last Unoptimized Asset Class" <- the title of an actual internal memo they wrote.
Re: Lambda School agrees to end deceptive educational financing practices
#67Earlier quoted context omitted.
The reason is that the applicants would not be loaned anything if they could discharge debt in bankruptcy. i.e. student loans would not exist unless collateralized and we don't want people to have to put up collateral equal to the value of the loan. This is because if I were a student, the optimal route would be to take the largest loan possible while on no assets, then go to the most expensive university, then decla…
And so the education would get cheaper. Nothing drives up prices more than easy access to big loans.
The problem with the US college/debt system is we combine three features: study anything, at any school you can get into, and take out nearly unlimited loans to do it.
Big loans aren't bad if you use them to study medicine, and a lot of student debt is held by grad degree holders: the issue is people taking on debt that people can take on debt that isn't a very good investment in themselves.
Re: Lambda School agrees to end deceptive educational financing practices
#68Earlier quoted context omitted.
I'm surprised that non-anonymous people, who rely on their salesmanship for income, are comfortable publicly embarrassing themselves like this.
Generally people who build interesting things don't enjoy shitting on other people's attempts to change the world for the better. I give less than zero shits if people who adopt this type of attitude don't want to work with me. They're not worth working with to begin with. Go look at the HN launch posts for Dropbox or Coinbase, or the struggles of other companies trying to do something new and make a difference and l…
Lambda's customers (students who want to learn how to code and are negatively impacted by this deception) are builders too.
Re: Lambda School agrees to end deceptive educational financing practices
#69Earlier quoted context omitted.
Your inane judginess is offputting, especially when coupled with how Lambda School is providing attractive alternative options the expensive colleges you're whining about.
I'm surprised that non-anonymous people, who rely on their salesmanship for income, are comfortable publicly embarrassing themselves like this.
I am surprised by your comment. Posting a single sentence without any context other than what appears to be nothing more than a personal insult (how do you know about Jamie's sources of income?) is unusually rude for this community.
Re: Lambda School agrees to end deceptive educational financing practices
#70Earlier quoted context omitted.
Saying nothing was an option.
Why would you prefer he say nothing? As long as he’s not misleading people I don’t see what the harm of commenting is.
Framing a request to stop making false claims about dischargeability as a request to clarify them is misleading. Making it seem like those were the only false claims the settlement covered is misleading too.