First Corinthian Colleges…now ITT? Regulators close in on another for-profit college

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By Suzanne Martindale on Tuesday, October 20th, 2015

The news isn’t looking so good for ITT Educational Services, a for-profit company that markets career education programs.  This week, the Washington Post reports that the Department of Education is placing additional restrictions on the ITT’s use of federal grants and loans because it failed to account for millions of dollars in aid that was disbursed to students in the last five years.

ITT is coming under heightened scrutiny in light of the recent bankruptcy and closure of Corinthian Colleges, a behemoth in for-profit education that deceived thousands of students as to the quality of their programs and padded their job placement numbers, among other things.  These students took on significant debts for false promises, and often dropped out after realizing that the programs weren’t anything like what they were promised.  Now many of these students are petitioning the Department to get their debts canceled on the grounds that they were defrauded.

Given that ITT is also fielding several lawsuits from state and federal regulators – even the SEC is suing them for alleged investor fraud – it could soon be curtains for the company.   If that happens, what will happen to ITT students who are stuck with the debt?

We’re advocating for more oversight over these schools, and urging the Department of Education to restore justice for students who were loaded with oppressive debts for a poor-quality education.  Stay tuned for more developments in the coming months.

One response to “First Corinthian Colleges…now ITT? Regulators close in on another for-profit college”

  1. bakit nyo nagawa sa amin lahat ito nasa daan po ang hanp buhay ko wala na po malapit sa amin ng net dto nasa tabunoc po ako para makapag net man lng nasaktan na po ako at tama na pong pagbayad nyo dto para sa akin dahil po kami po ang nasaktan ng anak ko dto wala po akong masama na ginawa sa inyo at ginawa kona lahat dto para lng makapagsalita kahit saan dto dahil po naka BLOCK po lahat ng facebooc dto at naiyak nalng po ako at wala po akong sapat na pera at wala po akong magagawa sa inyo dahil nasasaktan na po ako at itigil na po nnyo kami ng anak ko ang nasaktan na dto hindi po ito isang araw isang buwan malng halos dalawang taon kaming iniwan at nasaktan sa paghahanap ko sa asawa ko sobra na po igalang naman nnyo ang pagkatao ko dto may anak akong pinaaral at pinakain at huwag nnyo kaming gambalain pa dahil kami ng anak ko ang nasaktan nnyo dto

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