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by SlyShy
3262 days ago
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As a former employee I have to say that Kaplan did a very fine job of running the place into the ground. Kaplan management managed to take an industry leader with first mover advantage and completely squander it by myopically focusing on quarterly profits. They really should have switched to a pay-after-getting-a-job tuition model that schools like AppAcademy offer. That would have simultaneously better met the mission of serving diverse students (students who can't afford $17,000+ and living in an expensive urban area for almost five months) and improve long term outcomes. The pay-after-getting-a-job model creates virtuous cycles, because the schools that implement it suck up the most prepared students. Schools not offering that model end up with the leftovers after admissions to the top schools. Arguably colleges and universities should also adopt pay-after-getting-a-job but that would probably hurt their bottom lines substantially. It definitely creates the correct alignment of incentives for the school to educate well. Pretty amazing too, considering Kaplan has very deep pockets and could easily have financed the slight lag in revenue switching to models would have required. To me it just reeks of old-school short sighted corporate management thinking. For a bootcamp to not adopt pay-after-getting-a-job just shows that they lack faith in their own product. Funny because many schools end up having to hire lots of their alums as a way of bolstering their employment numbers. On a closing note, huge props to all the extremely hardworking teachers and students who went through DBC, they made it an amazing place despite all hardship. I made many of my most meaningful relationships there and I witnessed tremendous transformations in people. |
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