Re:Lambda School is a predatory bootcamp that lies about stu...
by austhrow743 on Wednesday April 14, 2021 @05:36AM
(#26804814)
>When a student signs an ISA, Lambda School is immediately paid by reselling that debt to hedge funds.
Hedge funds are not stupid. They'll be taking repayment rates by students in to consideration with regard to what they'll pay. So it still stands that bootcamp students getting good jobs is the outcome both Lambda and the student wants.
Factoring is a standard, entirely benign activity done by businesses in a wide range of industries. Pretty much any growing company with long term payment terms is going to be doing it. Companies offering net 30, let alone Lambda's 730.
Hedge funds are not stupid. They'll be taking repayment rates by students in to consideration with regard to what they'll pay. So it still stands that bootcamp students getting good jobs is the outcome both Lambda and the student wants.
Factoring is a standard, entirely benign activity done by businesses in a wide range of industries. Pretty much any growing company with long term payment terms is going to be doing it. Companies offering net 30, let alone Lambda's 730.
Whole selling to hedge funds angle is fluff.