Here’s my thinking: Consulting companies already hire aggressively out of college and then bill their clients fairly large amounts for those kids’ work. The kids, in return, get on the job training, though typically in a very informal fashion. Why not set up a consulting company that is first and foremost an engineering vocational school? The school can fund itself with client projects and can bill clients appropriately based on the level of education the students have. If it is a three year program, then first year students do work for free, second year students are billed at a small amount, and third year students are billed at a higher rate. Teachers, administrators, etc. can work on client projects at full market rates. The students can do homework and take classes that directly apply to the work experience they get from being on live projects.