SoylentNews is people
SoylentNews
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: -1, Troll) by Anonymous Coward on Thursday September 01 2016, @04:01AM
I was like you, then The Obama was elected, and I haven't found work since. During the Inauguration Of The Century, all of my coworkers blasted His Holy Speech out of their cubicles. I was the one who hadn't voted for Him, and I didn't much care to listen to His Holy Speech. I was called a racist, and I was fired.
Since then I've done nothing except learn, but learning is the accumulation of useless knowledge.
For one, I've learned enough about data networking to be able to cancel my home internet service, get free internet access out of the air from any wireless carrier, and tether my entire home network for free. Useful for a permanently unemployed loser like me, but is that a marketable skill? HELL NO. It's completely useless knowledge.
Marketable skills are how to vote for the winner, and how to monetize a bullshit blog, and how to suck cock to earn membership in a social group. You can love learning as much as you want, but the first thing you'd better learn is how to love being poor.
(Score: 2, Insightful) by Anonymous Coward on Thursday September 01 2016, @04:05AM
> I was like you, then The Obama was elected, and I haven't found work since.
Yeah, a black man becomes president and now you are permanently out of work.
Coincidence? I think not!
Trump! Trump! Trump!
> Since then I've done nothing except learn, but learning is the accumulation of useless knowledge.
Something which you demonstrate with every post.
(Score: 0) by Anonymous Coward on Thursday September 01 2016, @04:09AM
Like I told I guy I know about how I can't find work and all I do is post shit online in my fucking abundant free time, and he said, well yeah, you can't find work because you're a racist.
(Score: 0) by Anonymous Coward on Thursday September 01 2016, @05:57AM
and he said, well yeah, you can't find work because you're a racist.
Not just a racist, a fucking stupid unemployed racist. Get a job, you dirty F""ing racist!!!! My, how have the tides turned.
(Score: 0) by Anonymous Coward on Thursday September 01 2016, @07:14AM
It's such a shame I can't get a paid gig of attending interviews as the American loser who never gets the job because H1B.
Do you even read the news? It's all layoffs, outsourcing, and H1B. That's the Obama economy.
(Score: 0) by Anonymous Coward on Thursday September 01 2016, @12:38PM
Yea, because that other guy was totally going to stop outsourcing, put the corporations in their place and support the little guy.
What was his party again, oh yea Republican, sounds like their M.O.
(Score: 2) by dingus on Friday September 02 2016, @03:43AM
learning is the accumulation of useless knowledge.
So what?
You can love learning as much as you want, but the first thing you'd better learn is how to love being poor.
third option: overthrow Capitalism