No Tuition Until Hired - ConTech University Masters in CS/AI/Data

[smartdegree]

This is an interesting new university model based in Palo Alto.  Says they had 5,000 applicants with a 1% acceptance rate. 

This reminds me of the buy now pay later models offered by Bootcamps, but instead they offer Masters degrees in CS and AI/Data Science.  Their biggest challenge similar to Quantic, will be accreditation.  


https://www.marketwatch.com/press-releas...2022-01-13

https://contech.university/master-of-sci...-learning/

[LevelUP]

Keep in mind this intuition has no real U.S. accreditation so you are paying $20,000 essentially for a boot camp and calling it a master degree sounds really scammy.

As far as the 1% acceptance rate, I bet if you have a wallet and a pulse, they let you in.

Based in Palo Alto, yet they only offer online learning, ya right.

[bjcheung77]

If there is an option for them to provide you an education and have their program accredited by DEAC or another accreditor, and charge you AFTER you graduate and get a job (maybe 1 year later after you get paid handsomely), then I say probably, I may sign up?! Some people are alright paying $18/$19 K for an accredited Masters, as it may get you a better job and cashflow in the future... unless that happens, I wouldn't sign up just yet...

[MNomadic]

...is it a con? It's got con in the name.

[smartdegree]

A more interesting question is why other for-profits haven't thought about offering the study now pay later tuition option. Wouldn't be surprised if this payment scheme is the dominant one in the future. And maybe it's the best win-win option for both the student and the school.
The Bootcamps are succeeding with it with 6 month programs, so I see no reason why this payment model can't be expanded to 1 year masters programs.

[rachel83az]

Others haven't done it because their students are able to take out student loans. Why put your own finances on the line when you can risk someone else's money instead?

[davewill]

I find this interesting:

Notice to Prospective Degree Program Students This institution is provisionally approved by the Bureau for Private Postsecondary Education to offer degree programs. To continue to offer this degree program, this institution must meet the following requirements: • Become institutionally accredited by an accrediting agency recognized by the United States Department of Education, with the scope of the accreditation covering at least one degree program. • Achieve accreditation candidacy or pre-accreditation, as defined in regulations, by (date two years from date of provisional approval), and full accreditation by (date five years from date of provisional approval) If this institution stops pursuing accreditation, it must: • Stop all enrollment in its degree programs, and • Provide a teach-out to finish the educational program or provide a refund.

So there's at least a stated goal of becoming accredited. However, at the stated cost of $20,000, there are other, accredited, choices out there, although without the "pay later" thing.

[ss20ts]

$20K for something without any type of accreditation is super sketchy to me. I mean there are many schools who offer an accredited masters degree for less. Yes you pay tuition up front but you also know the school is legitimate and will be there when you're ready to graduate.

[smartdegree]

Others haven't done it because their students are able to take out student loans. Why put your own finances on the line when you can risk someone else's money instead?

It could potentially be used as a marketing ploy to attract or "steal" students from competitors.  A lot of the for-profits have similar value propositions.  But a for-profit that offers a study now pay later scheme (depending on whether you get a job) might beat out a competing for-profit school that has no such option. 

Not only will this scheme potentially benefit a for-profit by increasing student enrollment, it also provides a safety mechanism for students, as the school now has an incentive to make sure its students get a good paying job after their studies.  As a result, everyone wins in this scenario.  It's just my opinion, but I tend to believe that a school that offers a study now pay later scheme is more trustworthy as they believe enough in their ability to get students a good job.  Win-win all the way for both the school and the student.

[MNomadic]

Others haven't done it because their students are able to take out student loans. Why put your own finances on the line when you can risk someone else's money instead?

It could potentially be used as a marketing ploy to attract or "steal" students from competitors.  A lot of the for-profits have similar value propositions.  But a for-profit that offers a study now pay later scheme (depending on whether you get a job) might beat out a competing for-profit school that has no such option. 

Not only will this scheme potentially benefit a for-profit by increasing student enrollment, it also provides a safety mechanism for students, as the school now has an incentive to make sure its students get a good paying job after their studies.  As a result, everyone wins in this scenario.  It's just my opinion, but I tend to believe that a school that offers a study now pay later scheme is more trustworthy as they believe enough in their ability to get students a good job.  Win-win all the way for both the school and the student.

While I agree with you that is a good concept that incentivizes the school to help you achieve gainful employment, their marketing specifically says you won't pay until "graduating and getting a high-paying job," but once you dig a bit deeper, they make you start paying $500/month once you are making $30k/year. That may be considered a "high-paying job" in some regions, but I don't know anywhere in the U.S. that would consider $30k to be "high pay." Also, they want you to keep them updated about your pay "Every 30 days, even if your job is outside of the tech industry." Essentially, if work full time at $15/hr(minimum wage where the "university" is located) in any job, you immediately have to start paying them $6k/year.

To their credit, they promise no interest or added fees and if you make less than $2500 a particular month, you can get that month off from paying. 

If it were me, I'd go for an accredited master's degree for a fraction of the price like Georgia Tech where you will have good career prospects.

Link to their payment plan

Link to their google maps listing(it's likely a single office in a random office building)

---

Based in Palo Alto, yet they only offer online learning, ya right.

https://goo.gl/maps/mfqyoShLW3BjUxvq6