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Startup Coding Bootcamp Modern Labor Says It Will Pay You $2,000 a Month For 5 Months To Learn To Code, and Take Roughly 15% of Your Salary For 2 Years Later (vice.com)
Modern Labor promises to teach you to code in five months and help find you a job when you graduate -- but you're on the hook for the next two years. From a report: Most coding bootcamps almost sound like get-rich-quick schemes: Devote a few months to learning a new skill from home, and walk into a job that could pay you $70,000 a year to start. For the most immersive programs, you'll need to put your life on hold while you learn full-time. Usually, students pay for those coding bootcamps upfront while they take time off their jobs to learn.
Startup coding bootcamp Modern Labor pays people $2,000 a month for five months while they learn to code, following a curriculum remotely from wherever they live for at least 30 hours every week (working out to roughly minimum wage). After graduation, if they land a job that pays at least $40,000, Modern Labor takes 15 percent of their salary for the next two years. For example, if they find a job that pays $80,000, they'll pay Modern Labor $24,000 over two years. [...] Modern Labor's business model is an example of an "income sharing agreement," a scheme that's on-trend for Wall Street and Silicon Valley entrepreneurs looking to disrupt education.
Startup coding bootcamp Modern Labor pays people $2,000 a month for five months while they learn to code, following a curriculum remotely from wherever they live for at least 30 hours every week (working out to roughly minimum wage). After graduation, if they land a job that pays at least $40,000, Modern Labor takes 15 percent of their salary for the next two years. For example, if they find a job that pays $80,000, they'll pay Modern Labor $24,000 over two years. [...] Modern Labor's business model is an example of an "income sharing agreement," a scheme that's on-trend for Wall Street and Silicon Valley entrepreneurs looking to disrupt education.
I don't know, I think the fact you were able to read the story and write the comment shows success at government providing you with free education.
It is worse than that. TFA isn't clear, but it looks like they pay you $2000 per month, yet you are still responsible for paying tuition that exceeds that. So YOU are paying THEM in net payments even while you are still taking the class. Since these are "online" courses, their net cost to educate you is near zero.
Only a complete idiot would sign up for this scam.
When my company is interviewing, and we have two candidates:
Candidate 1: I learned to code in a 3 month boot camp that cost me $15k.
Candidate 2: I learned to code in my mom's basement using free tutorials and Stackoverflow.
we will definitely prefer #2, who is not a fool parted from his money, but has also shown himself capable of self-learning.