Thread regarding ITT Educational Services Inc. layoffs

Well, the vast majority of those students never finished with a degree. The best majority owe somewhere around $43,000 in loans. They will be applying for jobs like grocery cashier or car wash attendant so it won't matter EXCEPT that the horrible debt will ruin their credit rating which: HR at good companies actually check before hiring; it'll drive up the cost of your home and car insurance (I just got my 6 month car insurance bill and it shows my credit score and says that it affects my rate!). Dearborn Michigan campus: students were mostly borderline homeless, smelly, sad people with sad, horrible lives that were trying to better themselves but picked a school that was twice as expensive as Henry Ford Community College (although there was no way in hell HFCC or any other real school would accept them in the first place). I was there for a year during the recession: I quit and took a lower paying job so as not to be part of this scam! Fake school, students who don't belong in college anyway, teachers (not professors) who may try to help but really: the only option is to try your students to quit while they're ahead because the school was a scam.

they'll make some money from reselling the information to marketeers but the credit card info won't be worth much because most hackers will know the original card holders will be bankrupted.

State agencies will become the custodians of all student records. Once the shutdown is announced, they will bring a supoena to the campus and take possession of all student files.

They will then be responsible for maintaining and providing access to those files for the students.

"What's going to happen when 45000 current students plus maybe 100000+ former students all at once ask for transcripts?'

--Nothing

What's going to happen to keep employees well-informed

--Nothing

"If a degree cannot be verified by the issuing university, the degree is basically worthless"

---Not quite true-, we had a few instructors applying in that situation, ITT accepted their degree for employment (after verification).

My ex-wife received an AA in business from Bliss College, a private college in Columbus Ohio that closed back in the late 90's. I know she has issues getting a transcript as she has to get it from a state agency that became the custodian of records. When were still married, she looked at going back to school, spent 6 weeks getting a transcript, only to be told the all of the credits are worthless now. She at least can say she has a degree, she rarely puts it on a resume as it has no value and is extremely hard to verify. With HR departments wanting to verify records, especially for people that work for the government and other agencies, If a degree cannot be verified by the issuing university, the degree is basically worthless.

They cannot take the knowledge away, however, if the degree is verifyable by the university, you are out of luck.

There's another issue here as well. Access to that data. So they are closed Monday and now Tuesday. Wednesday? What's going to happen when 45000 current students plus maybe 100000+ former students all at once ask for transcripts?