ITT Technical Institutes Shuts Down • Hacker News Board

Re: ITT Technical Institutes Shuts Down

#51

Post by joedissmeyer » Tue, Sep 06, 2016, 2:46 PM UTC

the-dude wrote: post #21

joedissmeyer wrote: post #20

I 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 t…

> start of the 'higher-ed debt bubble The deflation of it you mean?

Ah yes, I meant deflation. My mistake.

Re: ITT Technical Institutes Shuts Down

#52

Post by dionidium » Tue, Sep 06, 2016, 2:46 PM UTC

tptacek wrote: post #40

pauldix wrote: post #37

Earlier quoted context omitted.

Yep, community colleges are where it's at. I started at a small local college a half-step up from a community college as it offered 4 year degrees. Got a year's worth of credits there to establish a good record and then transferred out to an ivy. My brother got his 4 year degree from the same college, moved onto a master's at a bigger school and is doing quite well.

The problem with for-profit schools like ITT and Phoenix is clearer when you see those companies as a sustained effort to profit by delegitimizing community college.

By positioning themselves as the no-nonsense-career-training, direct-path-to-a-job alternative? Is that what you mean?

Re: ITT Technical Institutes Shuts Down

#53

Post by Unbeliever69 » Tue, Sep 06, 2016, 2:47 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

Check out the DOE website. You most likely will be able to get some student loan forgiveness.

Re: ITT Technical Institutes Shuts Down

#54

Post by donatj » Tue, Sep 06, 2016, 2:47 PM UTC

I went to a similar for-profit school in Minnesota who also similarly shut down last year.

I still feel like they get a bad rap. Was it overpriced? Probably. Did I learn a ton and have small class sizes. Absolutely. The instructors had all previously worked in the industry, and knew their topics very well.

On top of all that, after graduation their persistent pestering of "how many places did you apply to this week?" (surely to help their numbers) had a lot to do with me actually getting a job. I didn't want to let the lady that called me weekly down. It took a lot of persistence and interviewing but I finally got my foot firmly in the door about 6 months after graduation.

I've been gainfully employed in the industry for ten years, I'm debt free, and I'm happy. I'm thankful for my time there.

Re: ITT Technical Institutes Shuts Down

#55

Post by ams6110 » Tue, Sep 06, 2016, 2:48 PM UTC

jrs235 wrote: post #43

What enabled this greed scheme to work? Government guaranteed loans. The schools and institutions need to have some of their own skin in the game.

The students too. If they are spending their own money they will (at least be more likely to) care more about what they are spending it on.

Re: ITT Technical Institutes Shuts Down

#56

Post by Yhippa » Tue, Sep 06, 2016, 2:49 PM UTC

jrs235 wrote: post #43

What enabled this greed scheme to work? Government guaranteed loans. The schools and institutions need to have some of their own skin in the game.

How was this allowed to go on for so long though? I remember seeing commercials on TV for ITT and ECPI growing up in the 80's.

Re: ITT Technical Institutes Shuts Down

#57

Post by slfnflctd » Tue, Sep 06, 2016, 2:51 PM UTC

qaq wrote: post #29

JulianMorrison wrote: post #11

Every student's loans to these slimy operators should be simply struck off with no penalty.

Why should avg. taxpayer take on this burden?

Better question: Why shouldn't they?

These are almost all going to be, by definition, disadvantaged people who have been lied to and defrauded. Yes, they 'chose' to do this, but the staggering amount of misleading advertising (and the worst kinds of sleazy-salesman lies & emotional manipulation of the vulnerable) leaves plenty of doubt as to how much of a choice they had.

I see very little difference between helping these people and helping storm victims. Nearly all for-profit education (that made a profit, anyway) is an ugly disaster and should never have been allowed to go on so long. The government actually did something right here for once.

Re: ITT Technical Institutes Shuts Down

#58

Post by rayvd » Tue, Sep 06, 2016, 2:53 PM UTC

joedissmeyer wrote: post #20

I 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 t…

Maybe we should have more of them. When they're not meeting the expectations of their students, the students go elsewhere and the school is forced to close.

Far cry from the current entrenched and inflexible education system.

Re: ITT Technical Institutes Shuts Down

#59

Post by JoeAltmaier » Tue, Sep 06, 2016, 2:53 PM UTC

Yhippa wrote: post #45

aaronchall wrote: post #35

The dream: take students who are mostly unprepared to succeed at college and educate & prepare them for success in the real world. The reality: most of these students will not realize a return on the investment of their time and acquisition of a ton of debt that they cannot discharge in bankruptcy. Many will fail to attend class, fail to take notes, fail to do homework, fail to learn, and will not complete - but beca…

What's the case against community colleges historically? I graduated from university a while ago and still take a community college course from anything from math to photography when I have the time. I have been largely impressed by what they have to offer.

My local one has cut back on everything in the last few years. No more counselors - just use the online tools! And they're mostly about getting federal financial aid. Placement consists mostly of 'apprentice' positions which means a vanload of students running the back end of a restaurant somewhere all summer and sharing an apartment meant for 2.

Strangely they don't advertise at all - at least in the media I see. While I saw IIT ads all the time. And they target the same demographic.

Re: ITT Technical Institutes Shuts Down

#60

Post by arenaninja » Tue, Sep 06, 2016, 2:54 PM UTC

donatj wrote: post #54

I went to a similar for-profit school in Minnesota who also similarly shut down last year. I still feel like they get a bad rap. Was it overpriced? Probably. Did I learn a ton and have small class sizes. Absolutely. The instructors had all previously worked in the industry, and knew their topics very well. On top of all that, after graduation their persistent pestering of "how many places did you apply to this week?"…

I don't disagree that for-profit colleges get a bad rap, but I think it's deserved in the case of ITT Tech and Corinthian.

I think about the government handing out student loans to students who statistically won't be able to repay, and I'm OK with the DOE putting a stop to it. Taxpayers will ultimately be on the hook for these failed loans, and if they know which institutions are largely at fault then good on them for being proactive