It’s hard to have any sympathy for ITT. Any business or institution that relies on government grants and loans to their customers to stay in business shouldn’t even exist.
It’s hard to have any sympathy for ITT. Any business or institution that relies on government grants and loans to their customers to stay in business shouldn’t even exist.
And how many ‘public’ colleges and universities would stay open if they also lost all access to government loans?
Not many, I’ll bet.
I actually consulted in the Belly of the Beast for about 5 minutes (Higher Ed, not ITT) and I'll take your premise one step further....
Not only do many private college rely on gov't grants and loans to stay in a business they shouldn't have in the first place....
....but many of them pay people that they desire (hint: they're not straight white conservative guys) to take their product off the shelf. Place I consulted at was Proud of its diversity, to the point where it lowered its standards for people meeting the proper criteria to near-illiteracy, while simultaneously giving them full-boat tuition.
It won't end well. It's predicated on gov't loans, alumni fundraising, and a minority of the students being able and willing to pay for a full ride and support the rest. Sooner or later, the house of cards will come down for a lot of these 3rd-string schools. Either they'll completely go crash - diploma mills like ITT are the canary in the mineshaft - or they'll retrench, get a lot smaller, and much more specialized - "XYZ College is the world leader in Lefthanded Medieval Basketweaving Studies".
That's my unsolicited $0.02...