[mr_turtle]

I wouldn't say they are selling shovels. They could easily charge an upfront free and eliminate the risk of a student not finding a job or not paying upon placement.

Changing that model, however, would have been cost prohibitive for me and I'm sure a lot of other people.

[ThrustVectoring]

They're better off owning the risk - it makes them a more competitive candidate for smart people with relatively little money.