Live data from Hacker News

ITT Technical Institutes Shuts Down

bloomberg.com

71–80 of 304 posts

Re: ITT Technical Institutes Shuts Down

#71
post #13

Earlier quoted context omitted.

Why'd you go? What'd you study? What was the experience like? (I have a single semester at UIC and no other college).

I'm pretty sure he's referring to Illinois Institute of Technology ( http://web.iit.edu ), and the fact that the name confusion doesn't act in his favor. I didn't attend, but I've been on the campus and it seems like a pretty great school.

That confusing with Indian Institute of Tech should help though. That's a top school in India

Re: ITT Technical Institutes Shuts Down

#72
post #15

Question 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?

There are various ways to get loan forgiveness for these loans, for reasons as you suggest, before the bankruptcy question. But pity the fool who paid off their loan and is now bankrupt.

Re: ITT Technical Institutes Shuts Down

#73
post #45

Earlier quoted context omitted.

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. Wh…

Based on the experience of myself and acquaintances your experience seems to be an outliers. Obviously it's just anecdote vs anecdote.

Re: ITT Technical Institutes Shuts Down

#74
post #61

Earlier quoted context omitted.

If you're going that route, strip every asset ITT owns, auction it off, and distribute the proceeds to students.

Which amounts to some rented buildings, some tables and chairs, and ...

That and seek damage from the people who orchestrated the defrauding. This was a "for profit" institution, follow the profit to the CEO and others.

Re: ITT Technical Institutes Shuts Down

#75
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?"…

Sanford Brown (or just Brown)? Same here... I loved it and it got me a great job.

Is it prestigious? Nope. But it got the job done and I was done in 2 years.

Re: ITT Technical Institutes Shuts Down

#76
post #58

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.

How is the non-profit school system "inflexible"? You don't have to attend a major research university at all, let alone for your first several years worth of credit hours. There are more than 1,500 community colleges in the US, with flexible scheduling and costs per credit hour that are a fraction of major schools.

The marketing notion that the options are solely UCLA or ITT Tech is part of the problem with for-profit colleges!

Re: ITT Technical Institutes Shuts Down

#77
post #9

Earlier quoted context omitted.

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.

Most schools will let you test out of pre-reqs if you get the right people on board. I've never heard of a school accepting prior learning as credit hours.

If that were the case anyone who figures out what they want to do and starts doing it in high-school would test out of a year or so worth of classes right off the bat. This would be particularly prevalent in STEM where there's a lot more test and "prove you know the material" based assessment compared to the humanities where there's more emphasis on producing a particular volume of work that meets a particular quality benchmark. Lots of STEM programs would be financially screwed if they couldn't bankroll themselves with huge freshman classes full of people who will change majors.

I got the ethics requirement for CS waved. I was a transfer student who had taken two semesters of business law, two security management courses, one class on computer and Internet specific law and crime and even then it was an uphill battle. After that they reworded the requirement to drop the "or take a series of comparable classes and obtain approval by the department" clause. My observation was that being as mostly dependent on tuition bred a "fight for every penny" attitude like you'd see in an insurance company which obviously caused a lot of inefficiency.

Re: ITT Technical Institutes Shuts Down

#78
post #41

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…

Perhaps apprenticeship programs as are common in Germany, which are more focused on practical skills development than theoretical learning?

They're actually quite a few apprenticeship programs here in the states. Learning a skilled trade just isn't sexy for a lot of kids and for some reason are looked down upon. Even though you can get a welding apprenticeship and be earning 70-80K right out of the gate.

High schools here are starting to encourage kids to take a more non-traditional route to a career and letting kids know there are other avenues other than 4 year colleges - including more vocational training, apprenticeships and other options like code camps.

Re: ITT Technical Institutes Shuts Down

#79

It looks like the main problem in this whole scheme is the government-funded student loan program. ITT was wrangling to get access that that loan money as a key to its operations. Failing to comply with the Dept of Ed's requirements caused them to go out of business, since they would no longer have a place at the public trough. How many state schools and private colleges could survive without government largess? We'v…

I'm not disagreeing or agreeing with loan forgiveness, but to claim that going to college is a bad decision is really a poor choice of words.

Everyone you talk to everywhere says that "a college education is the path to a good job" and "college educated workers make - on average - n% more than their non-college-educated counterparts". When these people (kids really at 18) graduate from high school, they are making the best decision they can possibly make.

Yes, we know now that ITT was basically a diploma mill, but for a very long time ITT grads got good jobs in the tech industry.

Post reply on HN