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It's on this page, for the curious: http://programinfo.itt-tech.edu/consumerinfo/
Why didn't ITT seek accreditation so that credits were transferable? It seems like it would instantly increase the value of what they are selling.
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.
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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-prof…
In my mind, the ITTs of the world compete with community colleges for students. Are admissions requirements drastically different between the two types of schools? If not, why do people object to for-profit colleges? It seems like there is little accountability in either community colleges or for-profit schools when it comes to accepting students. Both are incentivized to have as many students as possible regardless…
ITT's troubles have nothing to do with admissions requirements, and everything to do with fraud (securities and otherwise). Their accreditation problem stemmed from business-viability problems stemming from the fraud lawsuits, and their problems with DOE stemmed from their accreditation problems.
Corinthian's problems similarly were rooted in fraud.
In both cases, the frauds included misrepresenting placement statistics in the context of both seeking admissions and, more critically in many respects, nontraditional student loan programs operated by the schools.
> It seems like there is little accountability in either community colleges or for-profit schools when it comes to accepting students.
Community Colleges are generally chartered with the purpose of the broadest possible access and low, taxpayer-subsidized tuition. Students aren't wracking up tens of thousands of dollars of student loan debt a year at CCs, and CCs aren't conducting massive marketing campaigns directed specifically at drawing in more people who "unable to see and plan well for future" (as internal documents showed Corinthian was doing.)
I don't know why you are focusing on admissions standards, when the difference in attention between for-profit institutions and public community colleges isn't focused around admissions stanadards.
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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.
I have no idea, but our local community (junior) college is so highly regarded that our high schools generally recommended it as a good course for many, if not most, students. It routinely ranks in the top 5 of the AMATYC[1], and has transfer programs set up with many of the UC/CS colleges in state so you are guaranteed entry in those colleges if you complete the requirement classes with a certain GPA, regardless of…
I'll preface this with my lack of any love for ITT, but there's a piece of the story that bothers me: "Last month, the feds demanded the company produce an additional $153 million in collateral—nearly double its $78 million in cash on hand—to cover possible losses that the government might incur if the company were to suddenly fail." Here's how that sounds to me: "Well, ITT technically hasn't done anything illegal. B…
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While there may well be more bad (by whatever metric) for-profit colleges there are also bad non-profit colleges. And non-profit itself is a bit of misnomer. It is true that registered non-profits can't pay dividends to their shareholders, but they can and sometimes do pay exorbitant salaries to those that have control over them. As the gainful employment rule[1] currently stands it exempts degree programs from publi…
Salaries at non-profit must be "reasonable" by law. There's probably a lot of wiggle room there, but it's not like you can just pay yourself anything.
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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.
I went there for 2 semesters. I cancelled after one of the "professors" showed up hung over. The education was very low quality.
My teachers were awesome
I'll preface this with my lack of any love for ITT, but there's a piece of the story that bothers me: "Last month, the feds demanded the company produce an additional $153 million in collateral—nearly double its $78 million in cash on hand—to cover possible losses that the government might incur if the company were to suddenly fail." Here's how that sounds to me: "Well, ITT technically hasn't done anything illegal. B…
The utilitarian argument is that the taxpayers should be secured against paying for useless education. I guarantee you schools like that are a net utility loss for the public and the government obviously doesn't like that.
Not out of the blue at all.
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?"…
A common pattern I have seen:
Person does terrible in high school, doesn't get into a good college because they don't have the drive or commitment to get good grades. They go to community college, and surprise, they again get terrible grades and stop going. After a while they want to go back to school, so they start looking into these for profit colleges that promise them everything. These colleges make it sound so much more appealing than community college, because, well, community college isn't trying to sell you a bullshit education. Anyways, these sales people will constantly pester you trying to get you to signup and take out huge loans because for some reason we think that it's ok to lend someone with terrible credit $50k+ in worthless education.
The end result is either them regretting their decision or trying to justify it with some bullshit about it being a good learning experience or something of the sort.
I have seen many people follow this exact path and I am glad to see these companies shutting down. You can get a much better education for cheaper at a community college.