49 karma · joined July 25, 2010
Student loan is quite inefficient, people going to University of Phoenix with low job acceptance rate majors get the same/similar interest rate with people going to Stanford for Computer Science. One side is way more likely to pay back than the other. That side is the horse, while the other one is the burden to the portfolio.
There are for-profit schools which spend 70% or more of their budget to solely marketing. I don't see they are producing good workforces.
Long term value: driving the masses to correctly study things that have higher chances of concretely contributing to society on short - medium term. I think it's quite valuable.
SoFi's way to survive is to collect high quality borrowers which risks are smaller than the average of the student loan portfolio.
Let's say govt gave all 8% (idk the real numbers) for everyone, but there are good students/alumnis in it whose risk are calculated actually as 4%, SoFi would refinance the loan with 5%. 1% margin is for SoFi.
Borrower is happy, SoFi is happy, student loan system gets a slap of reality in the long run & people would realize the inefficiency of the loaning system.
In the next phase after they have gathered the good borrowers, SoFi needs to nurture them to ensure their productivity, while offering other finances if needed. This is still not materialized yet I think. But, acquiring good borrowers & continuously serving them is the holy grail of the business I think.
In my subjective experience, scientifically literate leaders usually have way better attitude than ones who are not that literate.
Boku is looking for a web developer. Need to be an experienced one. Will be dealing with PHP (Symfony framework), JQuery, HTML, CSS, REST APIs. Mobile UI development experience is a plus.
Some small codes written for references: http://github.com/genkiro/Quora1/downloads
Resume: http://github.com/downloads/genkiro/Quora1/Ronny_Wijaya_2010...
I can be reached at rwijaya@purdue.edu
Honestly during my last three years of college I made a huge wrong journey. I spent all my free time by solving general algorithm puzzles posted in the web such as top coder practice, Facebook coding challenge, RapLeaf coding challenge and their nature. I thought that was the best way to score an interview.
Now that I am interested in applying for a startup, I realized that real projects that involve a diversity of technologies actually gives you more credential rather than technical knowledges. But it is a bit too late.
I better start grabbing some of my small algorithm codes and put it online now.
I need to get a job in a period at most two months :(.