Posted on 09/06/2016 2:34:44 PM PDT by 2ndDivisionVet
The for-profit college chain ITT Technical Institute is shutting down all 130 of its U.S. campuses, saying Tuesday it can't survive recent sanctions by the U.S. Department of Education.
In a letter to more than 35,000 students, the Indiana-based parent company ITT Educational Services announced that campuses won't open for the fall term that was scheduled to begin Sept. 12 — leaving students scrambling for last-minute options since many U.S. colleges already have started fall classes. ITT also cut more than 8,000 jobs immediately....
(Excerpt) Read more at abcnews.go.com ...
How will people who have to get background checks get proof of education when this company is deep sixed by Obama?
I hear the Clinton Foundation has a lot of money they have never spent.
Maybe ITT Tech could merge with Trump University ;-)
Trump never took federal aid money.
ITT tech was a student loan moocher mill.
Like other colleges/universities they sucker students into nondischargable student loans.
Heaven forbid we cut funding to liberal arts schools and their all important womyns stufies courses and put that money towards STEM fields...
ITT should sue the fed gov for discrimination
I thought churning out more student loan debt was what osamabama was all about.
I wonder how most public and private universities would rate if the same standards were applied to them?
How about asking the Clintons fake university to give ITT the $18 million they gave Bill for traveling to foreign countries to bag more cash for the Clintons.
The most often case in these situations, are that the transcripts and/or degree information is sent to the state's department of education.
The college where I got my degree from closed some 15 years ago, and I had to make a request from Washington State's DOE.
It’s sad that a joke school like ITT offered a better education than the state-run universities and the Ivy League schools offer.
Hillsdale College doesn’t take any federal money, and they’re doing fine.
I see tons of folks with total household student debt (young couples who managed to defer repayment long enough to qualify for a mortgage) that equals or exceeds the mortgage debt. The debt goes nowhere in bankruptcy, and you can see that these folks are in denial, just waiting for a political solution to come down the pipe. Federally guaranteed student loans are a zero sum game. Once the funds have been disbursed, either the student/borrower pays them back, or the taxpayer does.
I do not know where ITT Tech ranked on the scale of rip-off schools that couldn’t exist but for the supply of free money loaned without question to lots of kids going into programs they may not complete, or that may not pay well if the degree is completed. But like Corinthian, the fact that they shuttered when the tap was turned off tells you what you need to know. Lots of schools have spring up to serve this market (kids who perhaps shouldn’t be pursuing a degree, using money they will not be able to pay back.) One step that is necessary is to thin out the ranks of these schools, then we need to apply some screening criteria to limit the access to federally guaranteed loans.
Right now there at nearly $1.3T in student loans outstanding. Roughly 90% is backed by the taxpayer.
Like other colleges/universities they sucker students into nondischargable student loans.
Indeed. I have a hard time understanding why some champion that behavior.
One of my nephews is a graduate of Hillsdale College. He’s a very bright kid.
Regulation kills jobs. The only silver lining if there is a total economic collapse, the bureaucrats will be out of jobs and the least likely to survive.
Bureaucrats are in the same camp as globalist politicians and banksters. After the collapse, they need to be hunted down, tried and punished.
Meanwhile 100,000 professors of black studies, feminism, social justice, medieval ergonomics, patriarchy and LGBTQ keep on earning six figure salaries. At least places like ITT taught somewhat useful skills.
Anyone who thinks “regular” colleges aren’t “for profit” should look at the typical college administrator salaries and/or endowment.
I have hired 3 techs from ITT. I later had to fire them all, because they lacked even the crudest skills for doing an electrical tech job.
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