Every student's loans to these slimy operators should be simply struck off with no penalty.
ITT Technical Institutes Shuts Down
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Re: ITT Technical Institutes Shuts Down
#12I 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.
It's on this page, for the curious:
Re: ITT Technical Institutes Shuts Down
#13As an alum of IIT (Chicago)... This is extra, great news.
Why'd you go? What'd you study? What was the experience like?
(I have a single semester at UIC and no other college).
Re: ITT Technical Institutes Shuts Down
#14Good.
Re: ITT Technical Institutes Shuts Down
#15Question for lawyers in the audience: If ITT is shut down because the "education" it was providing was complete shit and not recognized anywhere else, does that mean that the usual rules about education related personal debt surviving bankruptcy wouldn't apply?
Re: ITT Technical Institutes Shuts Down
#16Next, go after the public colleges? Other than brand, do they do a better job? Spend more than 30% of income on actual educational expenses (like IIT does)? I doubt it.
{edit} Seems like US Universities are about 1:1 faculty vs staff. Up from 2:1 40 years ago.
Re: ITT Technical Institutes Shuts Down
#17I 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.
I've seen some discussion of letting credits transfer using something called Prior Learning Assessment, essentially having the student prove they've learned the material taught in various courses at the receiving institution.
http://suburbdad.blogspot.ca/2016/09/friday-fragments.html
Transfer of any sort tends to be tricky. You rarely get anything close to parity, particularly in core courses.
Re: ITT Technical Institutes Shuts Down
#18I 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.
That's true - and as a taxpayer, I don't relish the idea of funding things like this that are taking advantage of people... but I have to admit I feel a little icky at the thought of pulling something that might act as a ladder of economic mobility - even for just a few people - out from under them. It's like we're saying to people that don't fit into the "traditional" mold of college-goer: "You can't go to ITT any more"... OK, but what do they take on to better their station now? I just can't think of a great anwser to that, other than bloviating about theories of "post-scarcity" that do nothing to help these people and it makes me feel bad.
Re: ITT Technical Institutes Shuts Down
#19So to mitigate the possible effects of the colleges all suddenly shutting down they were told to put up a huge amount of collateral, which caused them to all suddenly shut down?
That's quite a mitigation strategy the government has going on there.
Re: ITT Technical Institutes Shuts Down
#20I am personaly happy to see the hammer come down on these for-profit universities. I too feel for the students as I was one of the Corinthian Colleges students a few years ago at Everest University through one of the Florida campuses. My degree program was the A.S. in Computer Information Sciences -- such a waste. Look up the job placement rates for that program in 2010, just insane.
Thankfully I too have been able to take advantage of the Department of Education relief. But I have to go through the process of the “borrower defense to repayment”. It continues to be a tough process but at least it some form of relief for me.
I hope former ITT students are able to find a quick resoluton. This type of school shutdown is not easy on anyone.
On another note, I wonder if this is the start of the 'higher-ed debt bubble' that has been predicted for quite some time now...