Tin
Club Member
No. You're either leaving out facts so you can talk shit about Obama or you just haven't bothered to read up on ITT and their issues. Them closing is a good thing. They preyed on uneducated and poor people who were already in a shitty spot and managed to make it worse for quite a few of them. Their recruiting schemes, their job placement rates, their drop out rate, etc. There are plenty of reasons they're different than other non-profit and even most for profit schools.
When you get to the bottom of it, ITT appeared to be an outright scam. With federal student loans, the school gets paid and continues operating, while the student pays their debt to the government. ITT hasn't met ACICS standards for quite some time. Now, if ITT credits were transferable, it wouldn't have been nearly as big of an issue, but they the were non-transferable which essentially made their degrees worth about as much as the paper they were printed on. That was their business model for the last couple of decades. I was reading yesterday that the number of federal student loans issued to ITT students had a payoff rate of 13%, while public colleges and universities sit at 66%. That alone should say something.