Posted on 09/06/2016 7:33:44 AM PDT by dynachrome
"It is with profound regret that we must report that ITT Educational Services, Inc. will discontinue academic operations at all of its ITT Technical Institutes permanently after approximately 50 years of continuous service. With what we believe is a complete disregard by the U.S. Department of Education for due process to the company, hundreds of thousands of current students and alumni and more than 8,000 employees will be negatively affected.
The actions of and sanctions from the U.S. Department of Education have forced us to cease operations of the ITT Technical Institutes, and we will not be offering our September quarter. We reached this decision only after having exhausted the exploration of alternatives, including transfer of the schools to a non-profit or public institution.
Effective today, the company has eliminated the positions of the overwhelming majority of our more than 8,000 employees. Our focus and priority with our remaining staff is on helping the tens of thousands of unexpectedly displaced students with their records and future educational options.
(Excerpt) Read more at ittesi.com ...
A lot of them inflated their placement rates. These types of schools, I mean.
Community colleges in Nebraska are not free.
The university system just got rid of an annoying alternate player. Monopolies now rule. As with many tax systems, the big players don’t mind paying increased taxes or complying with burdensome regulations because it knocks out the businesses just holding on. It’s always been this way back to the founding days of our country. I disagree with the posters who knock the value of a technical school education. These schools place graduates in jobs. A family member of mine was proud to teach in one of our local technical schools, the person said the students were motivated and looking forward to becoming employed.
One of obammy’s last legacies. Destroying a technical school. For him, this is a resume-enhancer. For the students, it’s a disaster. Their plans disrupted. Their money wasted.
Bam is a disaster for this country.
SEC charges ITT and top two executives with fraud, alleging they misled investors about huge losses in lending programs.
https://www.washingtonpost.com/news/grade-point/wp/2016/08/25/this-really-might-be-the-end-of-itt/
ITT is no longer allow to new enroll students who rely on federal loans and grants, nor can the company award raises, pay bonuses or make severance payments to its executives without the department’s approval. The company must now inform the government agency of any significant financial or oversight events, including violations of existing loan agreements or substantial financial losses.
I guess they DON'T have state income taxes, then. Otherwise, they would probably be free. The state has to get its thirty pieces of silver money from somewhere.
Right you are. And that might be part of the government's beef with them.
I was reading an article about this awhile back. One of these schools was counting as a "professional placement" a business graduate who was working as a sales clerk!
Of course you don't need a degree to work as a sales clerk. So that is in no way a "professional placement."
8000 more people out of a job because of burdensome and unreasonable government regulations.
“Now where will I take my course in TV/VCR repair?”
Joke if you want, but my course in TV/VCR repair let to a very lucrative career in television broadcast engineering. College isn’t for everybody.
A buddy’s daughter went to one - $13,000 - with $6,500 guaranteed by the gov’t.
Oh she got a job (I’m sure the fact she looked like a model had nothing to do with it) - for $12/hr. For the next two years. Needless to say, she moved back home after her divorce (cute but more than a handful).
I’m sure she’s (he’s) still paying on that $6,500 debt.
Nebraska does have state income taxes.
No fair! ITT opened a school near my house a few months ago, and I had just applied for two teaching jobs there, after more than a year of unemployment.
I learned that last sentence only too well when I was trying to escape the public TV plantation.
One of the big scams around here, the DC metro area, is remedial classes in community colleges. They are non-credit, but cost as much as regular courses, and students can use loan money for them. They have high fail/drop out rates, but are a significant source of income and employment for the colleges. A big government promoter’s dream.
[Part of the conscious federal effort to continue the dumbing down of America. Trained and skilled people are harder to control!]
I’m sorry, what did you say? I was texting on the latest “Keeping up with the Kartrashians” TV show.
Man, I love it when Obama goes on vacation. He makes America look so good.
When is Jay-Z releasing more wonderful music by Beyonce?
I learned that last sentence only too well when I was trying to escape the public TV plantation.
I learned that last sentence only too well when I was trying to escape the public TV plantation.
Not in SC either.
Same for Illinois - Community colleges are not free and we have a state income tax.
It is my understanding that if you keep your grade point up, tuition is free in Wyoming. This may end if the big o is successful in eliminating fossil fuel.
http://trends.collegeboard.org/sites/default/files/2015-trends-college-pricing-final-508.pdf page 18 is a listing of Tuition and Fees by State: Public Two-Year. There are none with $0. Alaska is not listed since they do not have a two year system.
Graduated from ITT Tech/Stautzenberger College Toledo in 1975. HVAC/R course.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.