How can Make School offer an accredited bachelor's degree in just two years?

Make School structures the academic week like a work week, with students engaging in projects and labs for approximately 40 hours. This intensive, project-based approach allows students to earn enough credits for a four-year degree in an accelerated timeframe.

How does Make School prepare students for the job market differently than traditional CS programs?

Make School uses entirely project-based learning, equipping students with portfolios that demonstrate their coding ability and practical skills from day one. This applied approach ensures students are job-ready upon graduation.

What is the role of liberal arts education in a career-focused program like Make School?

Make School integrates liberal arts concepts into its technical curriculum, recognizing that skills like critical thinking and communication are valued by employers. This approach provides well-rounded education alongside technical training, differentiating them from elite institutions that may offer 'luxury' liberal arts education without direct career focus.

Is it true that companies like Google and Apple are dropping college degree requirements for hiring?

While companies do publicize dropping degree requirements, the reality for large-scale, systematic hiring, particularly through university recruiting and internships, still heavily favors candidates from degree-granting institutions. However, some students from non-traditional programs have landed jobs at these companies.

What are income share agreements (ISAs) and are they adopted by other universities?

Income Share Agreements are a financing model where students pay a percentage of their income after graduation. Make School pioneered this approach, and other institutions, like Purdue, have begun adopting similar models, indicating a broader trend towards aligning educational costs with student outcomes.

How can liberal arts colleges benefit from adopting income share agreements?

Liberal arts colleges can use ISAs to align their incentives with student career goals, especially for programs with lagging student supply relative to industry demand. This model can offer transparency about a program's potential to lead to 'the American Dream' and help differentiate programs that are career-focused versus those serving as a luxury good.

What advice does Jeremy Rossmann have for startups going through Y Combinator?

Rossmann advises founders to stick to the foundational YC advice: 'make something people want' and be certain of its demand. He emphasizes focus, avoiding 'fake work,' and shifting the company's status from 'default dead' to 'default alive' by prioritizing execution and not running out of money.

Key Moments

Jeremy Rossmann of Make School on Income Share Agreements and the Future of College

Y Combinator

Science & Technology5 min read43 min video

Jun 19, 2019|6,184 views|147|19

YC Y Combinator Jeremy Rossman Make School ISA Income Sharing Agreement College Education Podcast Interview Cofounder Startup

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Key Moments

TL;DR

Make School offers an accredited computer science degree with income share agreements, focusing on project-based learning and career outcomes.

Key Insights

Make School provides an accredited Bachelor's degree in Applied Computer Science with a unique tuition model: students pay only after securing a job.

The curriculum is intensely project-based, designed to build a strong portfolio showcasing practical skills to potential employers.

Make School's intensive track allows students to complete a four-year degree in two years by structuring the academic week like a professional work week.

The income share agreement (ISA) model aligns Make School's incentives with student success, as the school incurs debt and takes on the financial risk.

While liberal arts education has value, Make School prioritizes technical skills with integrated liberal arts components to ensure employability for a diverse student body, contrasting with elite universities' focus.

The school emphasizes teaching students how to learn and adapt, crucial for a rapidly evolving tech landscape, by grounding technical education in strong theoretical fundamentals.

The ISA model is gaining traction in higher education, with some traditional institutions beginning to adopt it, signaling a potential shift in educational financing.

Make School aims to democratize access to high-earning tech careers, countering the trend of wealth creation in Silicon Valley disproportionately benefiting privileged backgrounds.

MAKE SCHOOL'S UNIQUE EDUCATIONAL MODEL

Make School is an accredited college in San Francisco offering a Bachelor's degree in Applied Computer Science. Its distinctive feature is the income share agreement (ISA) model, deferring tuition payments until graduates secure employment. The curriculum is entirely project-based, with faculty drawn from industry, and offers an accelerated two-year intensive track designed to mirror a professional work week, preparing students for the transition into the workforce.

PROJECT-BASED LEARNING AND PORTFOLIO DEVELOPMENT

Differentiating itself from traditional computer science programs, Make School equips students with robust portfolios from day one. Even introductory theory classes are project-based, resulting in tangible products and projects. This allows graduates to present concrete evidence of their coding abilities, technological familiarity, and theoretical understanding to recruiters, effectively showcasing their readiness for industry roles.

THE INCOME SHARE AGREEMENT (ISA) ADVANTAGE

The ISA model is central to Make School's philosophy. Students do not pay tuition until they are employed, and the school incurs the initial financial risk. This structure ensures Make School's incentives are fully aligned with student career success, as their revenue directly depends on graduates achieving well-paying jobs. This contrasts with traditional models where institutions are not directly impacted by post-graduation employment outcomes.

ADDRESSING THE NEEDS OF DIVERSE STUDENTS

Make School serves a student demographic largely composed of individuals from low to mid-income families, a significant shift from elite universities like Stanford or MIT, which tend to draw heavily from affluent backgrounds. While acknowledging the value of liberal arts, the school prioritizes practical, project-based technical education to ensure employability, aiming to provide a pathway to competitive careers that might otherwise be inaccessible.

FOSTERING AUTODIDACTIC SKILLS AND LIFELONG LEARNING

Beyond specific technologies, Make School emphasizes developing students' ability to learn independently and adapt to the evolving tech landscape. A strong foundation in theoretical computer science and exposure to concepts across various languages and frameworks enable students to understand underlying principles. This approach prepares them to quickly grasp new tools and paradigms, a critical skill for long-term career resilience, rather than just learning a trade.

THE EVOLVING LANDSCAPE OF HIGHER EDUCATION

Make School is at the forefront of new accreditation models aimed at making higher education more relevant and financially accessible. The ISA model is seeing increased adoption by other institutions, signaling a broader shift. In 18 years, the higher education market is expected to be more competitive against traditional institutions, with greater pressure for schools to align their incentives with student outcomes and offer more innovative financing and curriculum.

DEGREES IN A CHANGING JOB MARKET

Despite PR suggesting otherwise, traditional degree requirements remain prevalent for internships and graduate hiring at major tech companies like Google and Apple. However, Make School demonstrates that accredited degrees, even without traditional backgrounds, can lead to success. The key is a structural pathway for underrepresented groups into high-earning tech jobs, and Make School aims to provide this through its outcome-focused education and ISA model.

THE ROLE OF LIBERAL ARTS VERSUS TECHNICAL SKILLS

While liberal arts foster critical thinking and communication, Make School argues that a purely liberal arts education can be a luxury for those without financial concerns. For students from less privileged backgrounds, a direct path to employability is paramount. Make School integrates essential liberal arts concepts within its technical curriculum, ensuring students are well-rounded and employable, thereby overcoming the perceived dichotomy between a degree and relevant skills.

INNOVATION IN EDUCATIONAL FINANCING

Make School advocates for financial structures that prioritize student success, warning against potentially predatory ISAs that do not fully align incentives. They champion models where schools have significant financial risk, forcing a focus on student outcomes. This approach aims to ensure that educational institutions are deeply invested in helping students achieve their career goals, making the value proposition of higher education clearer and more equitable.

PREPARING FUTURE ENTREPRENEURS

Make School cultivates an entrepreneurial spirit by integrating product development, customer discovery, and problem-solving into its curriculum. The project-based approach encourages students to see software as a tool for impact. While real-world experience is valuable for entrepreneurship, the school provides a structured environment for students to conceptualize, build, and launch products, potentially leading to successful startups post-graduation and further strengthening the tech ecosystem.

ADVICE FOR STARTUP FOUNDERS

Drawing from their own Y Combinator experience, Make School emphasizes the importance of 'making something people want' and maintaining a clear focus on customer needs. Founders are advised to execute rigorously, avoid 'fake work,' and constantly monitor their company's financial health to shift from a 'default dead' to a 'default alive' state. Prioritizing core execution over optimization games is key to long-term survival and success.

Mentioned in This Episode

●Software & Apps

●Companies

●Organizations

●People Referenced

Make School: Key Differentiators and Principles

Practical takeaways from this episode

Do This

Embrace project-based learning to build a strong portfolio.

Focus on understanding theoretical CS fundamentals for adaptability.

Seek mentorship and leverage faculty as live tutors/unblockers.

Communicate clearly to both students and parents about value and outcomes.

Prioritize aligning educational incentives with student success.

For entrepreneurs: focus on 'making something people want' and avoid 'fake work'.

For entrepreneurs: prioritize transitioning from 'default dead' to 'default alive'.

Avoid This

Do not offer a purely liberal arts education without career relevance to non-elite students.

Do not assume students are primarily autodidacts; provide structure and mentorship.

Do not solely rely on traditional degree pathways without considering alternative models.

Do not replace scholarships with income share agreements in a way that increases overall cost.

Do not 'play entrepreneur' on superficial tasks; focus on execution and customer needs.

Common Questions

Make School is a college offering a Bachelor's degree in applied computer science with a unique model where students don't pay tuition unless they secure a job. This is supported by financing that covers educational costs, aligning the school's incentives with student career outcomes.

Topics

Higher Education Reform Project-based Learning Business & Entrepreneurship Computer Science Education Future Of College Startup Advice Career & Skills Career Readiness Income Share Agreements Student Debt

Mentioned in this video

Companies

Google

A major tech company mentioned in the context of dropping degree requirements for hiring, though the reality on the ground is more nuanced.

Y Combinator

A startup accelerator program discussed in relation to successful founders and the common misconception that dropping out of college is a direct path to success.

Tesla

A major tech company where Make School students have secured jobs.

Facebook

A major tech company where Make School students have secured jobs.

Apple

A major tech company mentioned in the context of dropping degree requirements for hiring, though the reality on the ground is more nuanced.

Organizations

WASC

The accrediting body for Make School and other institutions on the West Coast, which has updated its regulations to allow for new college models.

Lambda School

A previous organization discussed in relation to Make School, also offering tech education with deferred tuition.

Make School

A new college in San Francisco offering a Bachelor's degree in applied computer science, featuring project-based learning and an income share agreement model.

People

Bill Gates

A prominent figure often cited as an example of a successful college dropout, though his specific circumstances are discussed.

Vikram Malhotra

The individual who asked about the relevance of degrees and the potential for companies to do away with them.

William Trischka

The individual who submitted a question about fostering autodidactic behavior in students.

Jamie Studly

The new president of WASC who created new regulations in 2014.

Evan Ward

The individual who asked whether liberal arts colleges should consider adopting income share agreements.

Software & Apps