The Salespeople at My Former Employer Lied to Prospective Students

[sanantone]

What they're doing is unethical, but not illegal. It's sort of a free market out there, but it doesn't work too well when you have so many uninformed people who can easily obtain student loans. Unfortunately, this school is now in three states and has two campuses in Texas. What is happening with Everest Institute and its parent company is promising, however. They are being forced to shut down for breaking the 90/10 rule and fudging employment data. The same thing might happen to ITT Tech if they don't get enough cash on hand to meet the DOE's financial requirements. What ITT Tech is doing should be criminal, but it isn't. For bachelor's degrees made up of credits that aren't likely to transfer (ITT Tech warns students of this), they are charging nearly $90,000. The tuition is so high that federal loans are not enough to cover them. ITT Tech ends up loaning the money to the students themselves at astronomical interest rates.

In addition to starting your own college, a good way to get rich is to start your own church. I have this thing against prosperity preachers, but that's a different topic.

[sanantone]

Some more information on Everest.

He and another instructor say the list of accusations leveled by federal regulators at Everest parent company Corinthian Colleges is spot on -- a directive to pass failing students and inflated job placement rates.
"They want us, and this is coming from the director of education, at every campus to push them through, pass them. Give them something easy so they can pass," one instructor said.
Some Everest students pay big money for a vocational degree -- up to $40,000. Many are lower income with below-average reading skills, the instructors say, and take on a load of debt they will be hard-pressed to repay with dismal job prospects.
Illinois Sen. Dick Durbin, a long-time critic of the for-profit college industry, accuses Corinthian of defrauding taxpayers by leaving students saddled with unmanageable loads of student loan debt.
"The sooner we turn out the lights at Corinthian, the better," he told NBC 5 Investigates. "We estimate that the federal taxpayers will end up holding the bag for this for-profit school to the tune of $1 billion that they have taken out of the federal treasury through student loans."


Source: College's Demise Leaves Illinois Students in Limbo | NBC Chicago
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This is what students are paying tens of thousands of dollars for.

Corinthian says two of the nation's largest drug store chains, CVS and Walgreens, each hired about 50 graduates of the Everest Pharmacy Technician program in the Chicago area in the past year alone. "It is patently absurd for any instructor in this program to assert he or she somehow overlooked the hiring of 100 graduates by two major employers," Jenkins says.

Source: College's Demise Leaves Illinois Students in Limbo | NBC Chicago
Follow us: @nbcchicago on Twitter | nbcchicago on Facebook

Not only do the pharmacy tech jobs at CVS and Walgreens barely pay a living wage for a single person (a pharmacy technician at CVS makes about $10 an hour), but these two companies hire unlicensed people and train them all the time. One can also self-study for the exam.

[cookderosa]

culinary schools lead students to believe they'll graduate and become chefs. Unfortunately, it's not completely a lie, but it suggests something more than what happens for most students. I don't think it's limited to the for profits.