I truly hope the future of education is something in which the incentives of the school are aligned with the students, and if the student fails the school doesn't get paid.
<shameless plug> We've been trying to do that at https://lambdaschool.com. We're a 6 month CS or Machine Learning/AI education, and instead of students paying up front we give them an education for free and take a portion of future earnings if they get a job in their field that pays >$50k/yr. If they don't get a job in their field it's 100% free.</shameless plug>
Or you stick around, freelance out the space on the projects they help you find and then give them a 10% contribution of those earnings and also teach the next cohort how to code.
Seemed to work pretty well.
is 17% before or after tax? Also does location/country matter?
I don't really get the "it's costly argument" since it is still education, and most education (at least in the US) and usually way more expensive than that.
I paid 10k upfront for 3 month bootcamp and got a job in a few weeks. Because I got the job through the referral system of the bootcamp, I got 5k back on my tuition. This seems like a good deal to me. The bootcamp was aligned with my success because they make more money through the referral also.
And 10k up front isn't a big deal for me, and it may not be for you, but a lot of our students were making <$20k/yr before they joined, so the risk is enormous, especially when you look at the failure rate for bootcamps. Glad it worked out for you.
At a salary of $80,000 that's 27 thousand of tuition. That seems extremely expensive for a non-accredited education.
So for about the price of 1 semester of private tuition (or about 50% more than the top bootcamps), it's not unreasonable, especially when attached to a guarantee you'll be paid $90k/yr while you're paying for it. It's capped at $30k so that's the maximum payback.
Not sure what the pricing will be long-term.
>... but to also have the boss read the idea proposals his students have as startup ideas and he would be the bridge to their funding. Except, he's the end of the bridge as an angel investor looking to own a huge chunk of their startup property before he prepares his elevator speeches to real angel investors.
So he's looking to steal ideas and/or "fund" his students who are just learning how to code. Wow.
Not that non-technical founders can't have good ideas, but on balance I'd say my dog could plan a more diabolical scheme than this dude. He sounds like he's just bad at being bad.
Lack of morals only gets one so far at being evil, solid strategy is still required.
First and formeost, I liked most of my students. They came from all kinds such as: Background Actors, wives of programmers, students, military veterans, teachers, and a hodgepodge of characters. They were eager to learn a step-by-step procedure of HTML, CSS, and Javascript Fundamentals with a bit of web design elements.
What struck me as odd was the President/Founder of the bootcamp first hired me to do my job and observe the videos of what their past instructor did. So I did and found out he was too aggressive in his approach to teaching his students. He was talking too fast and went off in some awful tangents that wasn't on the itinerary. I told the founder, my boss at the time, about what changes I could do to make it less aggressive and with a flowable and presentable approach to the fundamentals of front-end development and he agreed.
In my first five days, things went well. Then the boss wanted me to stick with the previous itinerary while forcefeeding javascript trends in one week. It wasn't enough to teach them basic syntaxes, array methods, loops, and other things I learned in 1 year of CS studies (I finished my undergrad in Economics). He wanted me to feed AJAX, jQuery, Angular, and APIs with javascript in one week. I hesitated at first, but he insisted as his "board of directors" feel this would give my students a reason to keep buying more advanced courses in the school I don't want to give out.
I find out the real reasons for my services to my students is to not just give them a new career perspective, but to also have the boss read the idea proposals his students have as startup ideas and he would be the bridge to their funding. Except, he's the end of the bridge as an angel investor looking to own a huge chunk of their startup property before he prepares his elevator speeches to real angel investors. An another thing is he's also aiming veterans for their GI bills to be spent at his coding school.
I left after a month. I felt dirty and icky just looking back at it.