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General discussion

ITT downfall... what say you?

Sep 8, 2016 10:23AM PDT

I recall at least 10-15yrs. ago some students getting into problems with ITT. Either costs were so-layered that it put many into debt. Others had issues getting some credits transferred after a move. While that maybe common in any student situation, it appears many fall in the cracks that ITT seems to readily supply. You have to pay to go to ITT and federal funds were a prime supplier, but a debt is created and fell on deaf ears where ITT was concerned. They got their monies and weren't too keen as I recall to help the students.

Why did it take so long for ITT to go down or at least be corrected w/o this action. Maybe they were but it didn't seem to creat big news. I also recall ITT was sponsed by big wall street firms as a good investment as they knew federal funds supplies much of the student payments and considered a good bet. The offside is that students just didn't get all those jobs promised or so magically would appear after graduation for some fields.

I hope any ITT students effected by the recent actions will be able to right themselves and get going or complete their studies and be hired. -----Willy Happy

Discussion is locked

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Derek and I talked about this a little bit yesterday
Sep 8, 2016 12:05PM PDT

and there are a couple of different directions with thoughts and opinions. From what I can understand about ITT is that it was not a 'degree' type of school ever....it was an introduction into a field where you would then go on with a certificate to either further your education and get an actual degree in the field or you could use your certificate to go to an employer and qualify for further hands-on physical training. I have a suspicion that many students who enrolled didn't understand or comprehend the structure of ITT regarding that and are now 'disgruntled' and filing complaints or like many kids today in college campuses across the country saw it as a 'free' ride via federal funding and didn't realize they actually had a debt to repay down the road when they got their certificate before they even had a 'training' job that would make those payments. Those who chose to go on to get a 'degree' in the field are now even further in debt.

A lot of this I have to blame on the federal government, especially since they have taken over the student loan programming.....and since they aren't collecting on those debts anymore, they, in my opinion, have no business forcing ITT to shut its doors. This is pretty much the same thing that happened with the banking/loan situation in 2006/2007 as far as I'm concerned. Push businesses into a corner, forcing them to make loans people can't afford, and then scream that it's all the businesses fault when things go sour rather than admit they did it themselves.

I said months and months ago that the next bubble to burst was going to be the student loan debt.......and already the feds and hilLIARy (pushed by Sanders into that corner) are going in the direction of forgiving that debt (can you say 'bailout') and making 'public' colleges free for all. And guess who pays for it again? Maybe free community college wouldn't be so bad if professors teaching those classes weren't teaching the kids how to be activists and instead taught them what they need to know to get a real job with a career other than community organizers who believe they should be exempt from taking finals because it interferes with their activist protesting (that they are actually getting paid to do from various groups).

What's the Saul Alinsky creed? Create a chaos and then rush in to be the savior of that very chaos that you deliberately created.....and always make sure you can blame someone or something else as you walk in with the halo over your head.

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I'd seen their TV ads
Sep 9, 2016 2:38AM PDT

Why did I think this was a technology training school? Why did I think "ITT" meant "International Telephone and Telegraph"? It was only after this news report that I checked into what they really offered. Nursing training??? I could wonder if this was more akin to a discernment environment for young people who didn't really know what they wanted to do or what was even out there. I think young people today have it a lot harder in many ways than most of us who've lived longer, survived war, and several presidential administrations. When I look at how many "on-line" schools are out there that offer publicly paid education, I can only sigh. What about social environment beyond the twitterphere? It seem that our increasing population hasn't brought us closer together but created a desire to put physical distance between us.

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PBS- Frontline reports on the topic
Sep 14, 2016 2:27PM PDT

PBS, provided by Frontline a in-depth review of what's happening to "for profit institutions" much like ITT, as in Phoenix, Carnnistan(sp), Everest, etc.. these too are already in deep trouble. Either they already gone under or were transfered to else to continue on or renamed, etc. but provide similar service. An important fact brought out was the cost of equivalent education by the for profit and probable local Comm. College as much as 5x. You get a RN degree(nursing) for roughly $3.5K to over $15K from a for profit. Further, the debt incurred paid up-front or to the for profit under federal funding. All these for profits are going down and local Comm. College may pick-up the difference but at least it'll for lower cost provided the student can transfer and/or allow some credits to stand. But again, many may not accept such credits because from the Frontline report much was of little value once the schooling was presented. Just as important, even if you graduated no job was waiting as promised or even accepted the degree awarded. It seems that around 2010 things started going against the for profits as state AG got involved and saw the results. These in turn were presented to the federal AG to process for legal action. I just wish this had happened far earlier. -----Willy Sad