ITT Shuts Down All Campuses After 50 Years - 35,000 Students and 8,000 Faculty Effected

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https://www.washingtonpost.com/news...tutes-shut-down-after-50-years-in-operations/

ITT Educational Services, one of the largest operators of for-profit technical schools, ended operations at all of its ITT Technical Institutes on Tuesday, citing government action to curtail the company’s access to millions of dollars in federal loans and grants, a critical source of revenue.

As of Tuesday, the company said it has eliminated the vast majority of the positions held by its more than 8,000 employees. The remaining staff members will stay onboard to help the roughly 35,000 students at ITT’s 137 campuses decide what to do next.
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Apparently they shut down their campuses because the government cut off their financial aid program to them. The fucked up part is that the university lost its accreditation so most students will have to start their degrees from scratch.
 
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dannyfrickenp said:
Well, unless the government makes ITT forgive or refinance loans, they'll be in debt and uneducated.
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True, but my point is that they are being saved from an even worse situation. If they completed those degrees, they would be ITT degrees.

Which is basically like having no degree. They would only spend more money and be more fucked.
 
Gym Leader Elesa said:
True, but my point is that they are being saved from an even worse situation. If they completed those degrees, they would be ITT degrees.

Which is basically like having no degree. They would only spend more money and be more fucked.
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Fair point. On some level though, for some jobs, education from an unaccredited university is better than no education. That being said these people should have gone to a community college or something, at least they wouldn't spend 5x more on a degree that doesn't carry much weight.
 
Pretty shitty to just shut down at the start of the school year, leaving the faculty and students screwed out of finding another place to work and piss away their money to for a couple of months.

For-profit schools are a joke to begin with, but you're messing with people's futures.
 
Wasn't this one of those online colleges that advertised in the middle of the night to potentially suicidal GED grads working the night shift at Arby's who stayed up watching Adult Swim while stoned out of their minds, wondering if life will get any better or just worse?
 
Good riddance. Fly by night shitty operations like this have done more to degrade the value of a college education than anything. It's about time we stop funding garbage like this.

DerSandstrom said:
Pretty shitty to just shut down at the start of the school year, leaving the faculty and students screwed out of finding another place to work and piss away their money to for a couple of months.

For-profit schools are a joke to begin with, but you're messing with people's futures.
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A lot of really good schools are also really profitable. When it's shit is when the school literally exists just to hoover up tax dollars while delivering an absolute minimum just to barely legally qualify and leaves people with a lot of debt and a shit education.

What's worse is that to compete with them, even "real" schools have lowered standards.
 
Good.
Fuck ITT.
My buddy had trouble even getting ITT to recognize old ITT course credit, much less the impossible dream of a real school recognizing it.
 
dannyfrickenp said:
Well, unless the government makes ITT forgive or refinance loans, they'll be in debt and uneducated.
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I don't have any real sympathy for people who got screwed by ITT. If you're not smart enough to realize going to a college that advertises between reruns of Family Guy is a bad idea than perhaps college isn't for you.
 
I don't buy into much the concept of predatory sales, but if you try to connivence me ITT tech is a perfect example. They LOVED to jump on Vets too. Because, that's classy.

Edit : Good fucking riddance.
 
Good. The majority of for-profit higher education institutions are garbage, and ITT is one of the worst. The whole system is based on milking federal loans and putting poor, stupid people in debt. Being able to secure federal loans, alongside holding a GED or high school diploma, is often the sole criteria for admission. Current students are eligible for loan forgiveness, and there's no reason to give a shit about any of the administrators who were running this scam, so, aside from some faculty losing their jobs, I see this as a win.

On a semi-related note, it's interesting that Department of Education officials have come down on for-profit colleges and universities since the beginning of the Obama administration, and now some of those very officials are attempting to purchase the University of Phoenix's parent company.
 
I've heard from a guy who runs a mortgage company that a lot of the for-profit colleges' sales departments was where the jerks who sold people shit mortgages ended up working after the housing bubble.
 
XYZpdq said:
I've heard from a guy who runs a mortgage company that a lot of the for-profit colleges' sales departments was where the jerks who sold people shit mortgages ended up working after the housing bubble.
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That would help explain the predatory lending then.
 
A long time ago, I was offered a job as a recruitment officer for a similar institution. I turned it down because it was the scummiest, most predatory thing I've ever seen at the interview. I say this as someone that willingly posts here, they are bad people and good riddance.
 
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