![]() Burdened with student loan debt from traditional schools that did little to prepare them for the workforce, they’re seeking ways to hedge their bets on career choices and schools that will provide a safe return on what is a high-stakes financial investment in America. In January, student loan expert and former Elizabeth Warren advisor Julie Margetta Morgan told VICE that these programs speak to the post-recession hell that young people face. ![]() Modern Labor is backed by tech accelerator Y Combinator, according to its website, and launched at YC Demo Day earlier this month. Similar to Modern Labor, Purdue University and the startup Lambda School are two entities that are experimenting with income sharing agreements. (In 2016, Larson founded Leif, a software startup that helps schools design ISA programs.) Critics of ISAs call them “ a form of indentured servitude” because graduates are obligated to hand over part of their earnings for 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. ![]() ![]() A typical coding bootcamp can cost around $11,000 for two to seven month courses, with some charging as much as $20,000. ![]()
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