Are teachers telling students about ITT Tech's situation?

Will ESI continue to keep its students in the dark about its finances, and what the implications are? Will teachers inform their students about the situation. Briefly, this is what has happened. •CEO Kevin Modany resigned (effective February 7, 2015).

•PWC quit its $6 million auditing deal (effective January 1, 2015).

•Deloitte replaced PWC. Board member Jerry Cohen (on the audit committee) is a former executive at Deloitte and worked there 40 years.

•ESI faces fraud charges with the US Consumer Financial Protection Bureau (CFPB) in Indianapolis US District Court. Although Judge Barker is business friendly, there is a mountain of evidence against ITT Tech's business practices.

•ITT Tech's near-predatory PEAKS Loans were remarkably similar to Corinthian Colleges' Genesis Loans.

•More than 50 of ITT Tech's 140+ campuses are "red flag" schools, meaning that they have student default rates that are higher than their graduation rates.

•Blum Capital Partners, a powerful investment firm, headed by California Regent Richard Blum (he's also Dianne Feinstein's husband), is slowly divesting despite a long-standing relationship with the company.

•ESI is late on yet another Quarterly Report. No full annual report has been posted on ESI's website since 2013. In addition:

1.The Chronicle of Higher Education (3-26-2015) reported that ITT Tech (ESI) was manipulating student loan default rates by using temporary forbearance. Their official default rate of 27%, therefore, may significantly underestimate the percentage of student loan defaults.

2.According to Inside Higher Education (3-30-2015), the US Department of Education will be publicly listing the most "risky" schools that are under DoED "intensive cash monitoring." ITT Tech is likely to be on this list.

3.Insider Monkey reported that California Regent Richard Blum (Senator Dianne Feinstein's husband) had reduced his stake in ESI from 1.63 million shares to 1.16 million shares.

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ITT Technical Institute in Fort Lauderdale, Florida tricked me into signing up for high interest private student loans that were never explained to me. Private student loans were never once mentioned to either me or my mother and father. They rushed us through the entire sign up process and I was just an excited 18 year old fresh out of high school thinking I was doing the right thing. I don't think I passed the entrance exam but the ITT Tech salesman told me that I did anyway. I wanted so badly to believe him and so I did. All I ever wanted to do was go to college and get a decent education and a great paying job. I had no idea that it was all smoke and mirrors. I attended between 2004 and 2006 and here is my experience of that time there. What they offered me was absolutely in no way what was described or advertised. My grades and GPA were artificially inflated by administration in order to keep the schools average GPA up, they were actually caught doing this. The classrooms were completely outdated, the computers were outdated by at least 6 years and software such as Photoshop was always at least 5 versions behind the current version. Most of the instructors knew less than a lot of the students in each classroom. Instructors were fired and hired at least a few times per course per semester. The new instructor would never know exactly where the previous instructor left off and it was just a complete disaster. Some instructors would just read directly from the book, some would just sit around and try to make friends with the students and let everyone do whatever they wanted. This is not a way to run the school and I feel absolutely scammed that I am going to be paying $117,000 with interest on a $60,000 loan for a degree that most employer's seem to shun. That being said, I would like a refund for the absolute lack of education I received. The fact that ITT Tech is currently being sued by the CFPB for predatory practices is exactly why I am here. Predatory lending is exactly what I experienced among myriad other disasters and major shortcomings that a major "college" chain should have standard.

Every time the stupid commercial with him airs I want to hit my TV.

Update: Kevin Modany never left. Was his publicized resignation just a ploy to build the confidence of the consumer?

ITT needs to be in all watch lists as their operations are very questionable.

It's a mess, i can tell you that

Thread regarding ITT Educational Services Inc. layoffs

Are teachers telling students about ITT Tech's situation?

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