A Silicon Valley is offering wannabe coders the opportunity to get a free MacBook and free housing while taking their 30-week iOS coding course.
Of course, there’s a bit of a catch with the offer. Lambda School CEO Austen Allred revealed his school’s amazing offer along with the stipulation that if you do find a job and start earning over $50k a year, you have to pay the school back.
Skeptics may think the program is a modern indentured servitude scheme, but Allred says the company wants to help more people stuck at dead-end jobs to take a risk. Lambaa Schools’ free housing program will be open to 10 people initially. Once you start hitting a 50k salary you pay 17% of your earnings back to the school for the next two years. The cap is maxed at $40k.
If you don’t find a job or make $50k, the school swears you won’t have to pay a cent.
Betting on coders
“We think schools should hold the risk; they’re in a better position to understand the job market, to determine what skills should be taught, etc. It’s insane that 18-year-olds lock themselves into loans,” Allred told Cult of Mac
The share agreement is similar to a loan. With a team of instructors that used to work for Apple, Lambda says it’s in the best position to make a bet on placing people into iOS development roles.
“There’s way too much brilliance trapped in dead-end jobs because they can’t afford to take a risk,” said Allred. “We can eliminate that, slowly but systematically, and end up with the best education in the world that is also accessible to everyone who is willing and able.”
Lambda School also offers the option to take its courses remotely for free. Those that don’t want the MacBook and housing pay 17% of their income for two years once you start making $50k, only its capped at $30k.
If you’re interested in applying, check out all the details on Lambda School’s website.