> ... if they don't get a job that pays $50k+ they don't pay us. Also, if you ever lose a job, your payments stop until you're back on your feet.

This is how it works in the UK and Australia with normal student debt. It's deferred until you're earning enough money and then is taken directly out of your pay cheque. Collection of the debt is also held off until you're earning a certain amount (in any field.)

> ... each student submits a form to the IRS that will essentially copy us on their taxes.

So it's not a truly universal online training environment, then? As a British citizen living in Australia, I can't file a form with the IRS, nor would I give the IRS my details for obvious reasons.