Crazy. I'm glad to see the government finally cracking down on these schools that do nothing but put people in a significant amount of debt. I'm sure there are success stories but many more that are people that just got screwed.
Did ITT tech lie to any of its students? I confused why they got shut down. Is it simply because the government thinks its a bad deal? or did they shut off federal funding to ITT and ITT couldn't survive without it?
Community college>for profit colleges 9 times out of 10. 4 year universities aren't for everyone but please don't make the mistake of believing that a for profit school is a proper alternative choice. In some instances they work such as very specifically catered technical schools like automotive technical schools where there isn't much of an alternative in community colleges but if if you are trying to study something that isn't technical such as finance or a liberal arts degree such as criminal justice, for profit colleges 10 times out of 10 are worse than your local community college.
in related nnews, daytime ad revenue for UHF channels 20, 26 and 39 dropped eleventy billion percent.
As long as payday/title loan places and shady law practices are legal there will still be plenty of advertising dollars around for daytime TV. Not to mention all the commercials for cheap auto insurance. "For a great low rate you can get online, go to The General and save some time!"
This is true and the majority is trending that way now. Unfortunately, people still get scammed by these for-profit colleges. I'm not sure how I feel about the government imposing restrictions on these business, though. They weren't doing anything illegal from what I could tell. They were just charging private school tuition for high school education. Should the government protect us from making bad choices?
Do you think the circumstances of the 2008 financial collapse were ok? What is government for if not to protect it's citizens from predators?
They really prey on the least educated and most vulnerable denominators. And get them to take out massive loans that many of them will likely never pay back. Their actions may not be illegal by definition, but they definitely create far more damage than benefit for society. The simple fact that their shutting their doors and not pivoting or restructuring speaks volumes. Their jig is up, and they know it.
Hired a kid fresh out of ITT back a couple years ago at our office. He made a pretty decent starting wage but his student loan bills were ridiculous. He still had to live with his parents. Eventually he went back to being a stocker at HEB.
Right, and I think it's for the better. There are still many more for-profit universities that run the same shady practices. It seems weird for our government to single ITT Tech out instead of passing a law to restrict federal education loans to these for-profit universities where the education isn't worth the tuition.
three cheers for government regulators shutting down voluntary exchange between consenting adults! they know better! actually I'm a bit torn on this one, as I'm against federally subsidized higher education But the patronizing posture of people presuming to decide for others when they are getting a bad deal is repulsive. Don't need Big Brother protecting me from making bad decisions. Women's Studies is apparently ok, but ITT tech is not. I know engineers where I work that taught ITT classes as a second job, they never said it was a scam.
They've restricted loans to universities that can't prove their graduates get jobs at an acceptable rate. For profit colleges across the US have been hit as well, not just ITT. And many have already closed. In instances where they've closed, the government has forgiven some student loans as well. This has been a crackdown on schools that don't result in jobs which not so coincidentally results in for profit colleges going out of business.
Are nonprofit schools subject to this scrutiny? (also, gotta love the "nonprofit" schools with billion dollar endowments and armies of administrators getting six/seven figure salaries, and charging through the roof for tuition)
hahaha, so Commodore, whose online persona is a collection of nail clippings and hair from John Galt's drain pipe, would rather pay federally guaranteed money in loans and grants to for-profit education scammers than see them declare bankruptcy or otherwise go out of business because....uh, free markets, or something.
The government carrots and sticks distort markets and make everything terrible (starting with cost). Once they start subsidizing, they use that to justify all manner of control. That's how they get the hooks in. The Feds should have no input in education (monetary or regulatory). ITT should sink or swim on its own, but other schools should be treated the same.
So this ridiculous "pro-socialization of losses/privatization of gains" from student loans argument is a necessary evil of the greater struggle - primarily the battle lines of Commodore fighting against a government involvement in the higher educational system - which precedes the Constitution itself and resulted in the best university system in the history of the world..because, MARKETS or something. Ha.
