ITT is no longer allowed to enroll students who rely on federal loans and grants
1–10 of 142 posts
Re: ITT is no longer allowed to enroll students who rely on federal loans and grants
#2Haven't read the piece.
This is a very interesting headline, though, since as I understand it the federal nondiscrimination requirements for universities are tied to the fact that students receive federal funding, and when universities tried to point out that they can't tell whether a student's bank account has been filled by a government loan or some other means they got shot down.
Re: ITT is no longer allowed to enroll students who rely on federal loans and grants
#3Please lets not dignify this sham of a business be referred to as a "University."
Re: ITT is no longer allowed to enroll students who rely on federal loans and grants
#4"ITT is barred from awarding raises, paying bonuses or making severance payments to its executives or paying dividends without the department’s approval."
Wow. How do we make that happen for TBTF financial companies?
Re: ITT is no longer allowed to enroll students who rely on federal loans and grants
#5Haven't read the piece. This is a very interesting headline, though, since as I understand it the federal nondiscrimination requirements for universities are tied to the fact that students receive federal funding, and when universities tried to point out that they can't tell whether a student's bank account has been filled by a government loan or some other means they got shot down.
They cannot see if the student is getting financial assistance in the way of food stamps, for example, but the student loan and grant program isn't like that. The federal money goes to the school first, and then anything above and beyond that will be deposited in the student's account. Which means students at this school now can either pay cash or get unsubsidized, non-garunteed funding through the private market, probably needing a cosigner or good credit. Some religious schools opt for this to be free from some types of federal standards. They may have other sorts of financial options available, but I'm not sure.
Re: ITT is no longer allowed to enroll students who rely on federal loans and grants
#6What took so long?
No seriously. With all the articles we read about predatory practices, and various TV segments, what takes so long for things to fall into place?
I wonder if there is a good way to distribute information about school quality. And that applies to not-for-profit schools as well.
Collect metrics, make sure you give them to the purchaser at decision time. Akin to labels on food. If the for-profit or non-profit has great placement and great training, good for them.
Re: ITT is no longer allowed to enroll students who rely on federal loans and grants
#7Haven't read the piece. This is a very interesting headline, though, since as I understand it the federal nondiscrimination requirements for universities are tied to the fact that students receive federal funding, and when universities tried to point out that they can't tell whether a student's bank account has been filled by a government loan or some other means they got shot down.
This is specifically one institution that is at risk for having its accreditation revoked.
Re: ITT is no longer allowed to enroll students who rely on federal loans and grants
#8Personally I don't think the government has the right to bar anyone from getting any kind of education. Yes, some of these are a shame, but the student might still learn something. And there's also the issue of time and scheduling. Many older people don't have the time to go to a traditional college and taking a 1 year program at night for a "2 year associates degree" fits them better.
Even worse still, most of these tech type schools around where I am are "non-profit". Not sure what that means or whats the difference, but they are just as much as a shame. One is some "art institute". I knew a girl who's dad paid $30K for her to go there for a year. She graduated but only worked briefly afterwards, and then couldn't get employed again. There is another aviation institute near me (also non-profit). Again $30K for 1 year of schooling. Although most could get a job afterwards, they found out working at McDonald's was far better than crawling around in a 110 degree aircraft fuel tank checking for leaks for $15hr.
Re: ITT is no longer allowed to enroll students who rely on federal loans and grants
#9What took so long? No seriously. With all the articles we read about predatory practices, and various TV segments, what takes so long for things to fall into place? I wonder if there is a good way to distribute information about school quality. And that applies to not-for-profit schools as well. Collect metrics, make sure you give them to the purchaser at decision time. Akin to labels on food. If the for-profit or no…
Hard to regulate what everyone wants I suppose. There are many schools like this around me and I know more people that went to these schools, both young and old, than I do people that went to an actual college.
And yea, most of them are still out of work...but for what ever reason they don't seem to mind.
Re: ITT is no longer allowed to enroll students who rely on federal loans and grants
#10Personally I don't think the government has the right to bar anyone from getting any kind of education. Yes, some of these are a shame, but the student might still learn something. And there's also the issue of time and scheduling. Many older people don't have the time to go to a traditional college and taking a 1 year program at night for a "2 year associates degree" fits them better. Even worse still, most of these…
I think the government has a right to ensure that the aid it pays out for an education is actually going towards an education, and not a front for siphoning federal aid for the enrichment of executives and shareholders.