With concerns mounting that rising student debt risks undermining economic growth -- a result of households delaying or reducing their home and auto purchases, investments in small businesses or retirement savings -- the data gap is reminiscent of the pre-financial crisis era, when federal regulators failed to comprehend the worsening housing market.... See More At: http://www.huffingtonpost.com/2015/03/05/government-student-loans_n_6808796.html
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@Anonymous74678, I'm sorry to hear about your sitaution. There are thousands of former ITT Tech students in the same spot as you are, and you need to work together. If you haven't done so, please consider contributing your story to myittexperience.........http://www.petervanpelt.com//myittexperience/index.html......The Consumer Financial Protection Board (CFPB) also has a federal lawsuit against ITT Tech/ESI and you can contact them...........
http://www.consumerfinance.gov/newsroom/cfpb-sues-for-profit-college-chain-itt-for-predatory-lending/.............I haven't seen an ITT Tech support group, but Corinthian College 15 have the "Everest Avengers" place on Facebook. ITT Tech students who believe they have victimized should consider something similar for solidarity, and also think about contacting the "Strike Debt" organization for assistance.
Obviously the entire industry is crooked from top to bottom. I just wonder how many students like myself consider suicide daily because of massive balances that led to no decent jobs and no way to escape the massive debt that doubles every 5 years. It seems ridiculous that our country will let people gamble with houses, medical debt, and even rack up massive credit card balances to wipe off, but you go to school and you get screwed for life.
That was no excuse for ESI management to come up with predatory lending programs, cutting corners with "labor costs" and thinking could con the stockholders one more quarter. Why else who Modany quit and PWC give up a $6 million accounting deal?