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El Reg reports
For-profit college chain ITT Technical Institute is facing further sanctions as the US government and the state of California have ordered the school to stop accepting new students.
Citing ongoing financial problems with the school, the US Department of Education (DOE) has barred the school from taking any new students who rely on federal aid money, out of concerns that the school will go under before those funds can be repaid.
"To protect prospective students and taxpayers, we're no longer allowing ITT to enroll new students with federal aid", the DOE said.
"In addition, in case the school's actions cause it to close, we're increasing the amount of cash reserves it must send us and we're ending its installment payment plan for the amount previously required."
This, after the DOE said it has spent the past two years working with ITT to get its financial matters in order and address concerns from creditors that the school may not be able to stay afloat and pay back its debts.
[...] Students who are already enrolled at ITT with financial aid will be allowed to continue courses and will have the option to transfer to another school that accepts ITT course credits.
The DOE added that those who have already graduated from ITT will continue to have their certifications recognized as valid credentials.
[...] The state of California, meanwhile, is taking things a step further by ordering the school [PDF] to stop accepting any new enrollments at its 15 California locations as of September 1.
The decree, issued by the Department of Consumer Affairs, Bureau for Private Postsecondary Education, cites the financial issues and says "there is a substantial failure by the Institution to meet institutional minimum operating standards related to financial resources and accreditation standards".
We have previously discussed other for-profits in hot water.
(Score: 0) by Anonymous Coward on Thursday September 01 2016, @02:33AM
They are an institution that does not care about excellence in education
So... no different from a grand majority of colleges, then. Many people--if not most--go to college primarily so they can get access to better jobs and therefore make more money, rather than to obtain an academic understanding of some subject. So, many colleges (not just for-profit ones) have become corporate training facilities that focus on rote memorization and pleasing employers. It's funny because many people complain about the poor teaching standards of K-12 schools, but then when colleges have similar standards, suddenly some people think it's instantly superior. Our culture does not value education; it values money, power, looks, and fame.
If you want a good education, and you want to obtain it formally, you have to go to a top-of-the-line school. Don't fool yourself into believing most of these community colleges and such offer anything more than substandard corporate training.