Goodbye ITT Tech

[CommuterBob]

http://gizmodo.com/rest-in-peace-it...source=jezebel_facebook&utm_medium=socialflow

"Today, ITT Technical Institute campuses have stopped enrolling students at all of its campuses. The abrupt decision to stop enrolling students came after the US Department of Education handed down a series of sanctions to the for-profit college on Thursday. One of the most damning sanctions handed down last week prevents ITT Technical Institute from admitting students who rely on federal aid to pay for tuition."

And good riddance. Good luck getting enough new students to cover your losses with this requirement:
http://money.cnn.com/2016/08/29/pf/college/itt-technical-institute-financial-aid-enrollment/

"Along with cutting off some access to federal money, the federal government is also requiring the company to increase its cash reserves and provide a letter of credit showing sufficient funding."

 

[jetsaholic]

#BanCollege

 

[UCFWayne]

It sounds like the gov is finally going to start cracking down on the schools. Too little too late.

 

[UCFKnight85]

I eagerly await Hillary's criticism of these for profit colleges.

Oh wait, she can't. Bill took in $18M from a For Profit college named Laureate and they laundered (errr donated) $5M into the Clinton Foundation. They also own another For Profit educational "program" that is under investigation by the Feds.

 

[Happy Hands]

Damn, I was three credits away from my degree in VCR repair. Actually, I was three ALF stickers away. They couldn't legally say credits.

 

[UCFhonors]

http://gizmodo.com/rest-in-peace-it...source=jezebel_facebook&utm_medium=socialflow

"Today, ITT Technical Institute campuses have stopped enrolling students at all of its campuses. The abrupt decision to stop enrolling students came after the US Department of Education handed down a series of sanctions to the for-profit college on Thursday. One of the most damning sanctions handed down last week prevents ITT Technical Institute from admitting students who rely on federal aid to pay for tuition."

And good riddance. Good luck getting enough new students to cover your losses with this requirement:
http://money.cnn.com/2016/08/29/pf/college/itt-technical-institute-financial-aid-enrollment/

"Along with cutting off some access to federal money, the federal government is also requiring the company to increase its cash reserves and provide a letter of credit showing sufficient funding."

This all due to Obamacare taking over, yes nationalizing yes socialism, of the student loan market.

Expect this to happen to many industries to come. Horray Socialism ending choices.

 

[Ace of Knights]

Good. I hope Full Sail is next.

 

[Good Knight Sweetheart]

Good. I hope Full Sail is next.

Why the hate for FSU?

.

 

[1ofTheseKnights]

John Euliano got out at the right time

 

[Great2BAKnight2]

It's funny the government regulates the private company when they only benefited from the government's student loan lending practices. Perhaps if people couldn't take out large sums to get a degree where they have no chance in paying it back, these for profits colleges wouldn't be able to take advantage of the system. So rather than addressing the student loan lending practices, they bar the college from enrolling students who use federal funding. This addresses the effect, not the cause.

 

[jetsaholic]

Good. I hope Full Sail is next.

FS-U is about half of Winter Park right now so that ain't happening. They probably own COSTCO by now.

 

[Ace of Knights]

Why the hate for FSU?

.

Because fool sail like the other for profits is a scam school. They aren't regionally accredited but throw the word "university" to the end of their name to make ppl think they are a real non-profit place of higher learning.

All the while they charge ppl tens of thousands of dollars for their degrees in sound production, media whatever, video game design, or film editing. All of which are niche industries or done more and more at home by the professionals themselves.

But their flashy signs and marketing lure them into the "university" and they use loans and their GI bills to pay for it.

I'm sorry but I think all for profit schools are nothing but leeches. They do nothing but prey on the poor and the less educated with the promise of providing them with an "education." All for the price of $60,000.

 

[UCFKnight85]

Because fool sail like the other for profits is a scam school. They aren't regionally accredited but throw the word "university" to the end of their name to make ppl think they are a real non-profit place of higher learning.

All the while they charge ppl tens of thousands of dollars for their degrees in sound production, media whatever, video game design, or film editing. All of which are niche industries or done more and more at home by the professionals themselves.

But their flashy signs and marketing lure them into the "university" and they use loans and their GI bills to pay for it.

I'm sorry but I think all for profit schools are nothing but leeches. They do nothing but prey on the poor and the less educated with the promise of providing them with an "education." All for the price of $60,000.

How is this different from most any university these days?

Politicians and college advocates spend years convincing kids that they absolutely must attend a college and get a degree. They send low income kids to colleges by having them take out federal loans, which are given away like candy, and send them on their way to obtain a liberal arts degree or to major in communications.

The end result is the kid comes out $40K in debt without a degree of value to show for it.

 

[UCF11and1]

The for-profit universities are teaching people Home Economics since parents and high schools are not teaching it anymore. Dumb@sses need to check how many jobs are available and how much a profession pays before taking the student loan money.

I guess Uber will be responsible if people start buying and leasing cars without checking how much money they can make after Uber's cut

 

[jetsaholic]

Because fool sail like the other for profits is a scam school. They aren't regionally accredited but throw the word "university" to the end of their name to make ppl think they are a real non-profit place of higher learning.

All the while they charge ppl tens of thousands of dollars for their degrees in sound production, media whatever, video game design, or film editing. All of which are niche industries or done more and more at home by the professionals themselves.

But their flashy signs and marketing lure them into the "university" and they use loans and their GI bills to pay for it.

I'm sorry but I think all for profit schools are nothing but leeches. They do nothing but prey on the poor and the less educated with the promise of providing them with an "education." All for the price of $60,000.

"Full Sail University is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC), and is licensed by the Commission for Independent Education (CIE), Florida Department of Education."

http://www.fullsail.edu/policies-and-guidelines/accreditation

 

[Ace of Knights]

How is this different from most any university these days?

Politicians and college advocates spend years convincing kids that they absolutely must attend a college and get a degree. They send low income kids to colleges by having them take out federal loans, which are given away like candy, and send them on their way to obtain a liberal arts degree or to major in communications.

The end result is the kid comes out $40K in debt without a degree of value to show for it.

Don't get me wrong, there are some similarities. But at least places like UCF and other non profits attempt to communicate real data for job placement, salary expectations, etc. I can only speak from personal experience, but I have seen an especially large emphasis put on real communicable data with regards to this especially in the last 10 years. And that is why there has been a huge emphasis on STEM fields and education.

Furthermore, yes if you get 0 scholarship or financial help, you are looking at roughly $40,000 from an in-state school (less depending on your living expenses.) But most low income students that are admitted to places like UCF have some form of help through grants or scholies made available to them. I don't know if for-profits can say the same. I would take $40,000 in debt over the $90,000 my cousin's wife is in debt from Full Sail any day.

But I think the biggest thing to me is knowing how money is being used. We see it at UCF. Research gains, new buildings, new faculty, etc. We even know how much Hitt made in salary and bonuses. I think the biggest thing for me in the college money race is knowing that all of my money is not going into just one person's pocket. Just knowing that research is being produced at non-profits makes all the difference to me.

 

[Ace of Knights]

"Full Sail University is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC), and is licensed by the Commission for Independent Education (CIE), Florida Department of Education."

http://www.fullsail.edu/policies-and-guidelines/accreditation

Yes, they are nationally accredited. But they are not regionally accredited which is what all non-profit universities are and the regional accreditation is the only accreditation worth a damn. That is why if you go to Full Sail and attempt to transfer to UCF, none of the credits will count.

And even more insane is their tuition prices. UCF undergrad tuition for one year for an instate student is $6,368. Full Sail (even after the $6,000 worth of aid 88% of students get) is $29,137 a year. On average students spend between $50,000 and $90,000 for their "degrees". Sorry, but Federal aid shouldn't be going to this kind of non-sense.

 

[sk8knight]

It's funny the government regulates the private company when they only benefited from the government's student loan lending practices. Perhaps if people couldn't take out large sums to get a degree where they have no chance in paying it back, these for profits colleges wouldn't be able to take advantage of the system. So rather than addressing the student loan lending practices, they bar the college from enrolling students who use federal funding. This addresses the effect, not the cause.

It's because the college industry is in bed with politicians and they all know it is propped up by the lending. How else do the Elizabeth Warrens make a half to a million a year in education?

 

[HuffyCane]

It's because the college industry is in bed with politicians and they all know it is propped up by the lending. How else do the Elizabeth Warrens make a half to a million a year in education?

People forget that Ike warned about the military-industrial complex, but in the next paragraph of the same speech, he warned about academic-government research complex coopting universities for profit.

 

[jetsaholic]

Yes, they are nationally accredited. But they are not regionally accredited which is what all non-profit universities are and the regional accreditation is the only accreditation worth a damn. That is why if you go to Full Sail and attempt to transfer to UCF, none of the credits will count.

And even more insane is their tuition prices. UCF undergrad tuition for one year for an instate student is $6,368. Full Sail (even after the $6,000 worth of aid 88% of students get) is $29,137 a year. On average students spend between $50,000 and $90,000 for their "degrees". Sorry, but Federal aid shouldn't be going to this kind of non-sense.

Yeah, but that 30K in one year pretty much covers your entire tuition. When my old drummer graduated from there, he had spent 35K in tuition for a year and 3 months, I think. He worked at different studios, worked with Johnny Wright, yadda yadda yadda, Transcom, blah blah blah, had an opportunity to work in NYC but didn't take it and decided to take a teaching job at Full Sail. He's been there since. Works M-F 9:00-5:00, makes super decent money, moonlights with ESPN on the sidelines for our football games as a matter of fact.

In the end it's not so much what you go to school for, but what you're willing to do with it. I think a Full Sail education is much better than no education at all.

 

[Ace of Knights]

Yeah, but that 30K in one year pretty much covers your entire tuition. When my old drummer graduated from there, he had spent 35K in tuition for a year and 3 months, I think. He worked at different studios, worked with Johnny Wright, yadda yadda yadda, Transcom, blah blah blah, had an opportunity to work in NYC but didn't take it and decided to take a teaching job at Full Sail. He's been there since. Works M-F 9:00-5:00, makes super decent money, moonlights with ESPN on the sidelines for our football games as a matter of fact.

In the end it's not so much what you go to school for, but what you're willing to do with it. I think a Full Sail education is much better than no education at all.

Yeah, but that's you don't think that's crazy? $35,000 for one year and three months?!? That's not even including living expenses. At least your friend finished in that short amount of time. Most don't and end up $50,000 to $100,000 in debt. That's private university Stetson money. The biggest difference here is Stetson is private and rejects people.

I'm not trying to bash people who either went or know people who went to Full Sail. I I know one myself. She went to full sail and is close to $100,000 in debt. It's kind of funny, currently she is a film editor for Full Sail and just like your buddy moonlights on the side. But that's what is strange, they always seem to go back and work there. But to be a film editor she could have went to Valencia and and spent $93,000 less.

Just like others have said, I agree that non-profits have gotten caught up in the student loan money race. That is another issue entirely and needs to be fixed. But I cannot get behind federal dollars going to for profits because all it is doing is lining someone's pocket at the tax payers expense with very little success to show for it. At least with the non-profits, I know they reject people for admission (the same cannot be said about for profits), they offer financial aid in other means than student loans, and I know at least some of the money going to non-profits is being spent on research. For example:

http://www.bizjournals.com/orlando/...ucf-nasa-are-teaming-up-to-explore-space.html

 

[jetsaholic]

Yeah, but that's you don't think that's crazy? $35,000 for one year and three months?!? That's not even including living expenses. At least your friend finished in that short amount of time. Most don't and end up $50,000 to $100,000 in debt. That's private university Stetson money. The biggest difference here is Stetson is private and rejects people.

I'm not trying to bash people who either went or know people who went to Full Sail. I I know one myself. She went to full sail and is close to $100,000 in debt. It's kind of funny, currently she is a film editor for Full Sail and just like your buddy moonlights on the side. But that's what is strange, they always seem to go back and work there. But to be a film editor she could have went to Valencia and and spent $93,000 less.

Just like others have said, I agree that non-profits have gotten caught up in the student loan money race. That is another issue entirely and needs to be fixed. But I cannot get behind federal dollars going to for profits because all it is doing is lining someone's pocket at the tax payers expense with very little success to show for it. At least with the non-profits, I know they reject people for admission (the same cannot be said about for profits), they offer financial aid in other means than student loans, and I know at least some of the money going to non-profits is being spent on research. For example:

http://www.bizjournals.com/orlando/...ucf-nasa-are-teaming-up-to-explore-space.html

I'm pretty sure the 35K included housing across the street. I could be wrong. Can't remember the name of the complex but they basically paired him up with some weird dude who had snakes. This is back in 2001 though, I'm sure prices must've gone up.

I mean, I get what you're saying, but Full Sail fills a void. The way kids are being raised these days with technology and everything being instantaneous, the traditional 4 year college structure needs to be examined and perhaps tweaked a little.

 

[CommuterBob]

http://www.wftv.com/news/local/afte...ters-campuses-across-florida-nation/437920043

Now they've simply closed their doors. No longer just not enrolling new students. They're shutting down completely.

 

[MACHater02]

If the school regularly airs commercials, especially during shows like Jerry Springer, save your money.

 

[knight1982]

Damn- what a shame. We need more "Tech Schools" charging $40K for medical assistant certifications, yielding jobs that pay $11.50 an hour.

Good riddance. They are a scam.

 

[jetsaholic]

Damn- what a shame. We need more "Tech Schools" charging $40K for medical assistant certifications, yielding jobs that pay $11.50 an hour.

Good riddance. They are a scam.

Or, we need medical assistant and other jobs that matter to pay more than $11.50 an hour so that we can justify a 40K tuition.