1. The degree is granted by a non-profit institution, Dominican University. The for-profit Public Benefit Corporation Make School, is currently providing services to the non-profit institution to run the program. It's also regionally accredited by WASC (far stricter guidelines) rather than nationally accredited like typical for-profits.
2. In contrast to typical for-profits, our students are predominantly 18-25 years old. They are choosing between Make School and traditional universities.
3. In contrast to typical for-profits, our incentives are directly aligned with students. As you state, existing for-profits targeted students to get approved for federal student loans. Our students don't take federal student loans, and they don't pay tuition unless they make >$60k per year. Their tuition is also scaled with their salary.
It's reasonable to discuss the merits of this vs state schools vs non-profit private colleges. It's hard to claim it's a scam when you're completely protected on the downside.