[everdev]

Just because you think someone is so poor they should be grateful for a 3x loan doesn't make it legal or right. That's the definition of loansharking. It's been a pervasive problem that increases economic inequality because only the poorest would accept a loan with those steep terms. Just because it's related to something positive like teaching people to code doesn't make the 3x payback and less burdensome.

I'm not so worried about this company in particular, but if this business model works, imagine desparate people signing up for a $100k loan and having to pay back $300k, or getting $300k for a house and having to pay back $900k.

It's the payback rate that's the problem.

I also don't think it's a bad thing to be concerned about other people in our community.

[Drdrdrq]

(I didn't downvote you FWIW)

The difference here is that the incentives of workers and this company are aligned. Either workers start making some serious wages and the company gets their money back (with interest), or both lose - worker their time, company their investment. Given the risk I don't think this is even close to usury. In fact, I would assume they are getting paid by the companies too, for privilege of getting the suitable candidates (which is not a problem in my eyes, if true).

Edit: and if they ever move their operations to EU I know a few people who would probably grab such a chance with both hands.