Lambda School provides student 100% online classes to teach them popular techologies which helps them to get a higher salery jobs just in 9 months. Their model is very different from University models which teaches you for 4-5 years and you have to pay the whole fees immaterial of whether you get a job in the end or not. However, Lambda School is optimized towards career and jobs where their pricing and focus relies on jobs. They teach you technologies which are popularly used in companies like Data Science, Fullstack dev, iOS dev etc. Their payment model is also based on the salary you end up with > $50k.
Lambda school charges you based on the salary (Income Sharing Agreement) at which you are hired at the end of their course. It costs you nothing for a job where your annual salary is less than $50k. Beyond that, it charges 17% of your income for 2 years or $30k whichever is lower.
No, Lamda School does not follow traditional colleges which provides you a degree. It rather focusses on building career and promises a job at the end of curriculam else you do not have to pay anything.
It is not hard to get in but their curriculam is pretty grilling and you should prepare to learn a lot from those 9 months. So, it is not hard to get in but it might be hard to keep up.
As of 2020, Lambda School has 2500 students and they are growing.