Stealing America's Future How For-Profit Colleges Scam Taxpayers and Ruin Students' Lives

For-Profit colleges receive up to 90% of their funding from Taxpayer dollars. Most of the revenue goes to "Profit", marketing, and recruiting than actual instruction. The executives at ITT Tech don't give a damn about the students or the teachers. They have only ever cared about their bottom line, and enriching the shareholders(and themselves). There are many other For-Profit Colleges that are just as ethically depraved as ITT. The gains are privatized, while the losses are socialized.

As an alumni of ITT Tech, I have sympathy for current and former students, as well as the teachers who may be affected, but if you are a teacher or a student, you need to take a long hard look at the For-Profit education sector and their track record....

Some references for you:

http://www.republicreport.org/wp-content/uploads/2016/01/D-Halperin-Stealing-Americas-Future-ebook.pdf

http://www.republicreport.org/wp-content/uploads/2016/06/Halperin-Friends-In-High-Places.pdfhttp://www.help.senate.gov/imo/media/for_profit_report/Contents.pdf

http://www.help.senate.gov/imo/media/for_profit_report/Contents.pdf

For those of you have read or watched "The Big Short", you may recall the character Steve Eisman.

Here is what he had to say about for profit colleges:

Eisman is a strong opponent of for-profit institutions of higher education. During a speech entitled "Subprime Goes to College" during the Ira Sohn Conference in May 2010 Eisman attacked companies that run private colleges such as Think ITT Educational Services, Corinthian Colleges, and Education Management Corporation.[6] Eisman likened such companies to seamy mortgage brokers. From his presentation:

"Until recently, I thought that there would never again be an opportunity to be involved with an industry as socially destructive and morally bankrupt as the subprime mortgage industry. I was wrong. The for-profit education industry has proven equal to the task."

Comment! It's anonymous!

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I've been listening to Rush for many many years---Geddy Lee really puts on a show. Modanny And The Band of Fools can't even come close.

Join the many Hatians who are still building their own boats to come to our shores

"failed to listen to Rush last week who informed all listeners "

Like you think most people know who you are even talking about? Rush? Who's he?

You clearly have not benefited from higher education. Rush is informing people? You go to Rush to get informed? And are preaching that to followers on an EDUCATION board?

Any student who has been in a REAL COLLEGE should know better than to rely on info from Rush. A real college creates independent thinkers who don't rely on people like Rush to tell them how to live their lives. REAL COLLEGE graduates don't need Rush to tell them what to think.

All you are doing when you keep spouting out on this board is show how far removed you have been from any meaningful higher education experience. If I was a wacked out wonky wackadoodle like you I would suspect Modany, and your hubby, of a conspiracy for brainwashing people into stupid sheep-like mentalities like yours.

@Jc6sWqm-1zta

Why don't you read the report from the Senate HELP committee, or David Halperin's free e-books that I provided links for.

I don't blame you for not knowing about the true nature of MANY of these For-Profit colleges. They exist solely to enrich Shareholders, at the expense of the students, teachers, and taxpayers.

Do Non-Profit schools have problems? Absolutely! Do the majority of them charge astronomical sums of money while delivering an abysmal education? No....but the For-Profit colleges do. Open your eyes and examine the facts. Wake up from your state of delusion.

Dear M.B.A. from an expensive, Pennsylvania university who says "I am still paying off my loans and can't find a decent paying job. I have filled out hundreds of applications and don't even get an interview."

Obvious question -- why aren't you working at ITT-Tech? Take one of those $1600 per quarter adjunct jobs -- they will jump to get an MBA resume. Seriously, put your actions where your mouth is.

Sure, lots of part -time faculty at state schools, that has been going on for decades and is not good. But lets talk wages for one class, for one quarter: $1600 dollars for 4.5 credit hour class as adjunct at ITT-Tech, $4300 for 5 credit hour class at local community college. In both cases, that is for "contact hours" or in other words the grading, planning, office hours, faculty meeting, professional development are extra. You can figure out the rest from there.

Last couple weeks of the quarter, my students had been hearing lots of rumors already about the not-so-rosey school that is ITT-Tech. They expressed their sympathy for the crappy wages they were hearing that we were getting --- not even a wage they were interested in with their upcoming AS degree! We made jokes about how maybe they could bring me in some chickens as a "tip."

Don't get me wrong, ITT may not have done a lot of things right, but to think that all the for profit" institutions are bad and all the "not for profit" institutions are good, is ridiculous. Trust me. I have worked for both. Just like the "for profit" institutions, it is about the enrollment numbers. The higher the enrollment in the school, the better. (It doesn't matter if the jobs are not going to be there once the student graduates. ) Something very concerning to me is the fact that a number of the "not for profit" schools are offering online programs in which they are doing absolutely nothing to ensure that the student enrolled in the class is actually the one taking the online test! So, just like the "for profit" schools, there are plenty of "not for profit" school graduates who are not truly qualified.

In addition, the "not for profit" schools have gone to hiring mostly part-time professors and barely pay them enough to survive. So, let's understand this. The institutions that promote the value of education, demonstrate how much they value educated people by paying them meager wages. Furthermore, while there are excellent part-time instructors, if teaching is someone's second job because they have to work another job to survive, do you really think that the students are getting the type of education that they are paying good money for? The teacher is sometimes exhausted when teaching class, and being only part-time, may not be available to the student when the student needs them. Now, tuition for the "not for profit" schools have increased over the years. Yet the cost of labor has decreased. Where is the money going? I really think there needs to revamping of colleges and universities everywhere! By the way, I have an M.B.A. from an expensive, Pennsylvania university. I obtained the highest grade in the class in a number of my courses. I graduated with almost a 4.0. The school developed an online M.B.A. program after I graduated with no type of monitoring system.

I am still paying off my loans and can't find a decent paying job. I have filled out hundreds of applications and don't even get an interview. ( My resume was professionally written.) So, is it really just the "for profit" schools that are misleading the public and not doing the right thing by the students?

Politicians, lobbyists, and celebraties associated with 4profit colleges:

http://www.republicreport.org/wp-content/uploads/2016/06/Halperin-Friends-In-High-Places.pdf

Thread regarding ITT Educational Services Inc. layoffs

Stealing America's Future How For-Profit Colleges Scam Taxpayers and Ruin Students' Lives

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