ITT Technical Institutes Shuts Down

#1

Post by jlas » Tue, Sep 06, 2016, 1:53 PM UTC

ITT Technical Institutes Shuts Down
bloomberg.com

Re: ITT Technical Institutes Shuts Down

#2

Post by dccoolgai » Tue, Sep 06, 2016, 2:04 PM UTC

"It will now likely rest on other parties to understand these reprehensible actions and to take action to attempt to prevent this from happening again."

Indeed.

Re: ITT Technical Institutes Shuts Down

#3

Post by peterhadlaw » Tue, Sep 06, 2016, 2:10 PM UTC

As an alum of IIT (Chicago)... This is extra, great news.

Re: ITT Technical Institutes Shuts Down

#4

Post by tickthokk » Tue, Sep 06, 2016, 2:10 PM UTC

As a 2005 graduate of ITT, I'm glad. This was a long time coming. Now if only I could get my loans refunded :p

Re: ITT Technical Institutes Shuts Down

#5

Post by kayla210 » Tue, Sep 06, 2016, 2:11 PM UTC

I really feel for all the students who are so close to graduating and not knowing if they'll have anything to show for it.. And their credits will most likely not transfer to another school because of the different accreditations.

Re: ITT Technical Institutes Shuts Down

#6

Post by at-fates-hands » Tue, Sep 06, 2016, 2:12 PM UTC

I live in Minneapolis and the City Pages did quite an exposé on them back in 2015. It was pretty eye opening and gives a really good glimpse into their tactics:

http://www.citypages.com/news/itt-tech-sells-an-american-dre...

Re: ITT Technical Institutes Shuts Down

#7

Post by jacquesm » Tue, Sep 06, 2016, 2:13 PM UTC

tickthokk wrote: post #4

As a 2005 graduate of ITT, I'm glad. This was a long time coming. Now if only I could get my loans refunded :p

From TFA: "Other former students are pushing to have their debts canceled by alleging that the company defrauded them into taking out the debt by advertising false job-placement rates."

So it looks like you might have a chance.

Re: ITT Technical Institutes Shuts Down

#8

Post by gigatexal » Tue, Sep 06, 2016, 2:14 PM UTC

Yes! What a shameful institution.

Re: ITT Technical Institutes Shuts Down

#9

Post by tptacek » Tue, Sep 06, 2016, 2:14 PM UTC

kayla210 wrote: post #5

I really feel for all the students who are so close to graduating and not knowing if they'll have anything to show for it.. And their credits will most likely not transfer to another school because of the different accreditations.

That their credits had virtually no chance of transferring to any other institution --- a point ITT was forced to make on its own website --- is a pretty good reason not to allow it to be the beneficiary of billions of dollars of public financing.

Re: ITT Technical Institutes Shuts Down

#10

Post by koolba » Tue, Sep 06, 2016, 2:17 PM UTC

kayla210 wrote: post #5

I really feel for all the students who are so close to graduating and not knowing if they'll have anything to show for it.. And their credits will most likely not transfer to another school because of the different accreditations.

> I really feel for all the students who are so close to graduating and not knowing if they'll have anything to show for it.. And their credits will most likely not transfer to another school because of the different accreditations.

I'm pretty sure the ones that graduated have no chance of their credits transferring either. Only difference is they saved whatever the last couple tuition payments would have been.