Lambda School Review: Is It Legit, Online, Accredited And Worth It?

A rapidly changing tech landscape means that the web development industry continues to grow. In fact, it is expected to grow by at least 13% in the next decade, according to the Bureau of Labor Statistics. Many of these jobs are located in major tech hubs like San Francisco and New York City, but the widespread need for developers across all industries could mean there’s a need for developers in every corner of the world.

But not everyone has the resources to gain an education in web development because it can be costly. Here's where Lambda School comes in.

What is Lambda School?

Every year, people as young as 17 years old take on tens of thousands of dollars in student loans hoping that the education they’ve invested in will get them a good job. Traditional colleges and universities offer no incentives to ensure their graduates get good jobs. Keeping this in mind, Lambda’s founders believe that the “traditional” model of higher education is broken and they sought out for a solution to address it in their own way.

Lambda’s model is built on Income Share Agreements (ISAs) where students pay no tuition upfront. The students agree to pay back 17% of their income post-graduation for two years, but only once they’re making $50,000 or more (earning $4,167 per month). If they don’t find a high-paying job after 60 months of deferred payments, they don’t have to pay at all. This paradigm-shifting model allows Lambda to align the incentives of the school with the incentives of its students. They believe that when their graduates succeed, everybody wins.

Is Lambda School Legit?

Lambda School's tuition is $30,000, which you can pay upfront or via an ISA. Lambda offers ISA payments that are based on income. With 24 months as the maximum number of payments, any student who chooses to use an ISA might pay less than the full $30,000 tuition of Lambda School.

‍If they do not land a high-paying job, they do not pay Lambda School anything. If they do land a high-paying job, the most they will pay is $30,000. If an ISA is used, the student will pay somewhere between $0 and $30,000, in 24 monthly payments depending on their income.‍ After the payment cap is achieved or the 24th monthly payment is completed, the student is then free of any obligations under the ISA.

For example, if you get a job paying $60,000/year, you’re earning $5,000 per month. 17% of $5,000 is $850, so you pay $850 that month for your ISA. You make 17% payments on your income every month until you’ve made 24 monthly payments. The total amount you will pay is $20,400, much less than $30,000.

Is Lambda School Accredited?

No, ‍Lambda School is not an accredited institution. Lambda School is regulated at the state level as a post-secondary educational institution. It is also not a degree-granting institution. However, it does issue a certificate of completion within 60 days of graduation.

Lambda selects and invests in its students who they believe will be successful and covers their tuition until they're in a financial position to pay the school back.

Is Lambda School Online?

Yes, Lambda School conducts all of its classes remotely online. It is located in Silicon Valley, California. Various cities have local meetups and gatherings but students do not work out of Lambda’s offices and can take classes from anywhere.

A course takes six months to finish with a rigid 8am to 5pm schedule, Monday to Friday, during Pacific Time hours. The most important aspects of Lambda School happen in small, interactive groups and require full attendance for all hours of the classes. While all of the lectures are recorded and archived, the lectures alone are not what makes Lambda School great.

Is Lambda School Worth It?

Lambda School is a fast-paced, immersive, online education experience. They are looking for students who are determined, proactive, team players, digitally savvy, career-focused and gritty. This means they’re looking for students who can handle their curriculum and really want to advance their skills for a better chance in the future.

With numerous success stories, Lambda gives everyone who has the grit, focus and desire the chance to a better career. So ask yourself, “Is this right for me?” and if you’re willing to work for it, then Lambda School will be excited to invest in you.

Don’t wait for a better future, apply to Lambda School today here.