Launch HN: Lambda School (YC S17) – CS education that's free until you get a job
Brilliant, I've long thought that all universities should run under this model (although when applied to the humanities I can hear in my head the 3000 years of the land owning, non-laboring intelligentsia protesting about the noble virtues of an education uncorrupted by the banalities of productive yada yada...) But anyway back to CS.<p>1) Risk is pooled in the institution rather than distributed amongst the students, which is the textbook way to deal with uncorrelated risk.<p>2) The incentive of the university and the student are aligned as much as possible<p>3) By putting costs and benefits into a form with equal time horizons, disadvantaged students no longer need to rely on the generosity of governments or private lenders for upfront cash.<p>The only thing I'd always questioned was whether such a scheme as described above could pass legal muster, as it bears a resemblance to involuntary servitude, as well as requiring access to income statements. I've never heard of anyone but the govt placing liens on income. I'm hoping a workaround has been found, because from a strictly incentive based analogy, this model has the potential to do to modern education what patent law did to manufacturing