federal student loans, college

National News: For-profit college chain ITT Tech ceases all student enrollment

 

The government is locking down wasteful use and abuse of student loan spending. Price gouging is rampant. Student loan debt is atrocious. The federal government wrote too many checks that they cannot cash in on.

Loan interest is only cash flow positive when…graduates have jobs and can pay back loans.  I know many adults in their 40’s who still need forbearance and deferments on loan payments.

College expenses are increasing at 300% of inflation rates in the US.

“The market for students that enroll without Title IV is essentially non-existent,”

“The expense of processing applications only to have them cancel once they learn (they are) Title IV ineligible is not worthwhile.”

“ITT’s future has been in question since the Education Department announced its sanctions amid an Obama administration crackdown on for-profit colleges. The SEC, Consumer Financial Protection Bureau and more than a dozen states are investigating ITT over its financial performance, marketing, recruiting and job placement numbers.”

For-profit colleges face increased scrutiny

For-profit college chain ITT Tech ceases all student enrollment

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