But make no mistake......the ship IS sinking.
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889-Meanwhile hundreds of thousands of former students are left on the hook for tens of thousands from a fraudulent place that did not open up any new jobs or opportunities. Who honestly thinks they are just going to start paying $1000 a month for life because the piece of paper they got was so shiny?
880- Thats the point! DOE is incented to let this thing limp along until the number of loans to forgive is at the minimum. Bringing down the hammer now is warranted, but would be political and career suicide. In a few months when there are fewer remaining students, DOE will act, or the problem will take care of itself when there is insufficient capital to run the schools and they close.
The ship is sinking because the captain is an idiot and he hired people less intelligent than him. Their high ranking officers of this sinking ship are the same people (divisionals and RVPO's) who sunk the CCI ship. There are is no chance of survival on this ship with this leadership and CCI crooks. I feel sorry for my colleagues who lost their jobs because of the idiots who are running this mess. The DOE needs to hurry up and close this mess.
For those of you who believed that your jobs were" saved' by ECMC, you might want to take a peek at those just thrown overboard, and start moving toward the lifeboats. (...the ship analogies on this thread are getting a real workout...).
779 you are 100% correct. I believe that this was the master plan put together between the government and ECMC. The DOE wanted the schools closed down but couldn't handle the backlash from the tax payers on how much it would cost. Solution, shrink the total number of students eligible for loan dismissal then teach out the remaining. ECMC is in a no loose situation. The feds are financing the whole scam. If ECMC refused to cooperate with the government they would lose the contract for collecting debt.
779---Agree....it's the Titanic.
The department of education is the core part of the corruption and greed, without their sheltering of these companies and laying in bed with collections companies and lobbyists this bubble would have never inflated and tens of millions of students would have gone to school, gotten a degree, failed to find a job, and wiped the toxic debt. The current model is seriously broken and only someone benefiting from the ponzi scheme would say otherwise.
734 - Can you identify three facts that would strongly indicate that the organization is likely to be successful? How about two? One? Be objective and smart. There are a number of red flags that, taken together, would cause a reasonable person to suspect that the company is sliding into oblivion. A few examples: declining enrollment, lay-offs, reduced (non-existent) marketing, lack of vision and direction by the ELT, high levels of attrition, equipment and facillities falling into disrepair. Yes, it's my opinion, but one based in fact. Your turn......
The sooner this crap goes down the better.
You are entitled to your opinion