Students looking to acquire a bachelor’s degree could be digging themselves out of a big fat debt hole come graduation time. However, one coding program based in San Francisco, California is offering students a two-year bachelor’s degree in computer science, and under its full income share agreement, won’t charge tuition until graduates actually land a job.
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“A lot of it is about transferring the risk away from the student into us to hold the institution accountable,” Make School co-founder and CEO Jeremy Rossmann told FOX Business’ Maria Bartiromo on Thursday. “It’s the right thing to do.”
“I think the common trend we are seeing is all companies are becoming tech companies,” Rossmann said. “Companies across sectors are hiring software engineers and those software engineers are being sought after to create products that ultimately are the kind of products that we are training our students to build.”
But graduates of the program are also receiving job offers from top companies including Apple, Google, Facebook and Tesla, he said.
In 2018, there were more than 44 million student loan borrowers in the U.S. and total national student loan debt reached $1.5 trillion as of March, according to the Federal Reserve.