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Austen Allred @AustenAllred
, 3 tweets, 1 min read Read on Twitter
People saying Lambda School’s model is the same as loans in Britain.

Britain: Payments once making over £25k, 3-7% interest, forgiven after 30 years, taxpayers pay school if default.

Lambda: Payments once making £ 38k, no interest, forgiven at 5 yrs, school makes $0 if default
The point of Lambda School isn’t just that you only pay after you’re making $x/yr. It’s that Lambda *doesn’t* get paid if you don’t get a great job.

Passing the bill explicitly to taxpayers is perhaps better than the system in the US, but incentives aren’t aligned at all.
Suppose there are two schools. One only gets paid if you get and keep a great job, the other gets paid no matter what.

Which do you suppose will be more interested in your career success?
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