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Coding bootcamp Lambda School — now BloomTech — is finally getting punished
Remember Lambda?
It advertised a way for students to get high-paying tech jobs “risk free” with “no loans” by paying 17 percent of their future income for five years — rather than the $20,000 sticker price of tuition. BloomTech’s curricula frequently changed and relied in part on teaching assistants paid $15 per hour with limited programming backgrounds. But BloomTech’s non-public reporting to investors, which relied on more accurate methodologies, has consistently shown placement rates closer to 50 percent.
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