ITT Technical Institute Shutting Down All Campuses

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#1
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http://www.ittesi.com/2016-09-06-IT...echnical-Institutes-Following-Federal-Actions

Sep 6, 2016


CARMEL, Ind., Sept. 6, 2016 /PRNewswire/ -- Today, ITT Educational Services, Inc. released the following statement:

"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.

This action of our federal regulator to increase our surety requirement to 40 percent of our Title IV federal funding and place our schools under "Heightened Cash Monitoring Level 2," forced us to conclude that we can no longer continue to operate our ITT Tech campuses and provide our students with the quality education they expect and deserve.

For more than half a century, ITT Tech has helped hundreds of thousands of non-traditional and underserved students improve their lives through career-focused technical education. Thousands of employers have relied on our institutions for skilled workers in high-demand fields. We have been a mainstay in more than 130 communities that we served nationwide, as well as an engine of economic activity and a positive innovator in the higher-education sector.

This federal action will also disrupt the lives of thousands of hardworking ITT Tech employees and their families. More than 8,000 ITT Tech employees are now without a job – employees who exhibited the utmost dedication in serving our students.

We have always carefully managed expenses to align with our enrollments. We had no intention prior to the receipt of the most recent sanctions of closing down despite the challenging regulatory environment that now threatens all proprietary higher education. We have also always worked tirelessly to ensure compliance with all applicable laws and regulations, and to uphold our ethic of continuous improvement. When we have received inquiries from regulators, we have always been responsive and cooperative. Despite our ongoing service to this nation's employers, local communities and underserved students, these federal actions will result in the closure of the ITT Technical Institutes without any opportunity to pursue our right to due process.

These unwarranted actions, taken without proving a single allegation, are a "lawless execution," as noted by a recent editorial in The Wall Street Journal. We were not provided with a hearing or an appeal. Alternatives that we strongly believe would have better served students, employees, and taxpayers were rejected. The damage done to our students and employees, as well as to our shareholders and the American taxpayers, is irrevocable.

We believe the government's action was inappropriate and unconstitutional, however, with the ITT Technical Institutes ceasing operations, it will now likely rest on other parties to understand these reprehensible actions and to take action to attempt to prevent this from happening again."

SOURCE ITT Educational Services, Inc.

For further information: Nicole Elam, ITT Educational Services, Inc., 13000 N. Meridian St., Carmel, Ind. 46032, 317-706-9200
 
May 13, 2002
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#7
All those schools closing!! they said on the news last night that wyotech also closed!
Good. They preyed on the poor community tricking them that they'll get good jobs which they rarely ever do and usually has nothing to do with the schooling only to be left with a lifetime of paying off school debt. All of this was funded by our taxes, complete scams. Feel bad for the workers and the current students but this shit needed to end.
 
May 7, 2013
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#9
That school did not prey on anyone, people sign on the dotted line on their own accord. If someone is an adult and not doing their due diligence, they are an idiot. The government publishes data that explains which job areas are growing and which are declining and there are multiple websites that display pay for jobs at specific companies and what the education requirements are.
 
May 13, 2002
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#10
That school did not prey on anyone, people sign on the dotted line on their own accord. If someone is an adult and not doing their due diligence, they are an idiot. The government publishes data that explains which job areas are growing and which are declining and there are multiple websites that display pay for jobs at specific companies and what the education requirements are.
Yeah because all 18 year olds are totally prepared for the real world and are vastly experienced in avoiding scams/recruitment. There have been plenty of unfortunate young people who signed up only to learn the truth too late. Sure, we can call them stupid, or we can just put an end to bullshit like that in the first place, since after all, it costs you and me and all of us money. These "schools" were/are getting funding from the government in order to rip off young people who then are left with debt they can't pay off without getting any jobs (that ends up hurting society).
 
May 7, 2013
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Yeah because all 18 year olds are totally prepared for the real world and are vastly experienced in avoiding scams/recruitment. There have been plenty of unfortunate young people who signed up only to learn the truth too late. Sure, we can call them stupid, or we can just put an end to bullshit like that in the first place, since after all, it costs you and me and all of us money. These "schools" were/are getting funding from the government in order to rip off young people who then are left with debt they can't pay off without getting any jobs (that ends up society).
Is that so? Why are they not going after the Universities then?
 
Apr 25, 2002
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Yeah because all 18 year olds are totally prepared for the real world and are vastly experienced in avoiding scams/recruitment. There have been plenty of unfortunate young people who signed up only to learn the truth too late. Sure, we can call them stupid, or we can just put an end to bullshit like that in the first place, since after all, it costs you and me and all of us money. These "schools" were/are getting funding from the government in order to rip off young people who then are left with debt they can't pay off without getting any jobs (that ends up hurting society).

you can apply your quote to a "traditional" college. it's all the same. other than vocational schools letting you skip the bull shit general ed.
 
May 7, 2013
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#14
I have degrees from both public and so-called for profit (all schools are for profit no matter how you cut it). School is only part of the equation. How well can you sell your skills and abilities, that is what sets you apart.

I'm debt free, applied myself in my education, and am paid well..... Fail to plan or plan to fail? Not me.
 
May 13, 2002
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#15
you can apply your quote to a "traditional" college. it's all the same. other than vocational schools letting you skip the bull shit general ed.
Traditional schools have actual education, some better than others of course. Whether or not it's worth it in the end, that depends. You can also transfer your credits to other schools. You can't do that here. Your "degree" is laughed at and meaningless. So everyone agrees it's a scam, then why allow it? Sure if it's privately run, whatever, the problem is thry exist off government grants, all their funding comes from the government. That's the big problem here when they cannot prove they provide an education that's an issue.
 
Apr 25, 2002
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Traditional schools have actual education, some better than others of course. Whether or not it's worth it in the end, that depends. You can also transfer your credits to other schools. You can't do that here. Your "degree" is laughed at and meaningless. So everyone agrees it's a scam, then why allow it? Sure if it's privately run, whatever, the problem is thry exist off government grants, all their funding comes from the government. That's the big problem here when they cannot prove they provide an education that's an issue.
i agree it shouldn't be getting our (government) money. Sesame Street shouldn't be either. other than that, i think it's education and as "valuable" as a traditional school. a general UC IT degree is probably the same as ITT Tech. the issue in that industry is years back there was a real demand. nowadays a lot of people got that degree so techs are a dime a dozen. i wouldn't agree it's a scam. i mean universities have writing and music classes/degree's. you can't just go out and get a job with those degrees. i think these universities are just as guilty of pumping 18 year olds dreams with an IT degree. or even writing and music.
 
Apr 25, 2002
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i mean universities have writing classes/degree's. you can't just go out and get a job with those degrees.
I can think of plenty of jobs you can get with a writing degree. Apparently, this is a widespread belief because any time I read a newspaper I feel like I'm reading something written by a 5th grader. And if I read anything online, a 2nd grader must have written it.
 
May 13, 2002
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#20
i agree it shouldn't be getting our (government) money. Sesame Street shouldn't be either. other than that, i think it's education and as "valuable" as a traditional school.
Very debatable if it's even an education. Their material is so outdated, the teachers are terrible and underpaid, it's a complete joke by all accounts. People who go there end up having teach themselves. So these kids are paying upwards of $85,000 for nothing.

It's simply not as valuable as a traditional college. Now, I'm not arguing here that college is insanely overpriced and the value of degrees has fallen greatly over the years, the entire education system is a joke. But if you get a BA at a credible college, there's no way you can say it is the same as getting a degree at ITT tech.

a general UC IT degree is probably the same as ITT Tech. the issue in that industry is years back there was a real demand. nowadays a lot of people got that degree so techs are a dime a dozen. i wouldn't agree it's a scam. i mean universities have writing and music classes/degree's. you can't just go out and get a job with those degrees. i think these universities are just as guilty of pumping 18 year olds dreams with an IT degree. or even writing and music.
They are guilty too since the system is broken. But ITT tech is really in its own category. You can get amazing educations at colleges, you can have amazing teachers, etc. You cannot at ITT tech. Plus, the main issue here isn't just that and the debate of how valuable degrees are in 2016, it's the literal scam that ITT tech is of getting all their findings from the government, ripping off kids by provide them with outdated material and shit courses that has zero evidence of it actually working at all. Very little of their total budgets is spent on actually educating students. ITT tech isn't alone either there are others that will or should be affected, DeVry University, Kaplan, and the Arts Institute, Westwood College, etc and might as well throw in University of Phoenix online since over 80℅ their revenue comes from the government. But they have actual real degrees, so there is that of course.