Wednesday, September 07, 2016
ITT vocational schools closed suddenly and left 45,000 students in limbo. The closure came after the government barred federal financial aid and Pell Grants to its attendees. That happened because the for-profit institution had a bad reputation for poorly educating students and preparing them for real jobs once they are done. This is yet another example of how one's actions in the marketplace are viewed positively or negatively by consumers and the government. The only question is why ITT wasn't penalized sooner. Its former students are now left to scramble to complete their educations and in some cases to pay off their loans. Neither will be easy.