Today, ITT Educational Services, Inc. (ITT) announced that it is closing all of its ITT Technical Institute campuses. For most of the world, that news will be covered as a business story or a political one, but I know that for you it is deeply personal. You are probably wondering what this means for your future; how it is going to affect your finances and your ability to continue your education.
In recent years, ITT has increasingly been the subject of numerous state and federal investigations. In August, ITT's accreditor, the Accrediting Council for Independent Colleges and Schools (ACICS) determined that ITT "is not in compliance, and is unlikely to become in compliance with [ACICS] Accreditation Criteria." This came amid increasingly heightened financial oversight measures put in place by the Department over the past two years due to significant concerns about ITT's administrative capacity, organizational integrity, financial viability, and ability to serve students.
[...] Whatever you choose to do, do not give up on your education. Higher education remains the clearest path to economic opportunity and security. Restarting or continuing your education at a high-quality, reputable institution may feel like a setback today, but odds are it will pay off in the long run. There are people and tools – like our College Scorecard – out there to help you pick a program that gives you a real shot at success.
I am proud of your hard work and dedication, and we will do all we can to continue to provide information to you on your options.
Sincerely,
John B. King Jr., U.S. Secretary of Education
Source: Department of Education
(Score: 1, Interesting) by Anonymous Coward on Wednesday September 07 2016, @04:20AM
I just read this article about Big Data manipulating people [boingboing.net] which had, tucked away in one small paragraph, the claim that U of Phoenix spends about $1B/year on marketing which works out to $2,225/student, but only $892/student on instruction.
Meanwhile the states have been defunding non-profit community colleges because nobody in power thinks education is a public good any more.
Greed is Good!
(Score: 0) by Anonymous Coward on Wednesday September 07 2016, @05:02AM
Education must be a waste of time because rich powerful influential celebrity Rambull Manho made a successful career from "one weekend messing with perl" [xkcd.com].