Vatterott immediately closes all campuses
Source: St Louis Post Dispatch
Vatterott Educational Centers announced the immediate closure of all its campuses Monday, citing financial difficulties.
In a letter sent to students, the for-profit college based in Berkeley pointed to a U.S. Department of Education decision to limit Vatterotts participation in federal financial aid programs.
The move doomed a pending sale of most of its campuses to another for-profit education company, Education Corporation of America, which officials said in January would have allowed the school to remain operational.
Vatterott is unable to continue operation under these restrictions, and consequently, is unable to complete the aforementioned sale. The Department imposed these restrictions despite the presence of an interested buyer and our clear communication that such restrictions would result in the schools closure, the letter reads.
Read more: https://www.stltoday.com/news/local/education/vatterott-immediately-closes-all-campuses/article_4c0ea18a-3feb-5e51-bc78-5d1e6f3d6831.html
pecosbob
(7,502 posts)Their squashing of $150 million in student debt from fake universities and colleges over DeVos' objections is also going to be tough on some. Womp womp...
SunSeeker
(51,367 posts)eggplant
(3,891 posts)It's such a scam. I taught at the local ITT Tech for a semester (hey, I was out of work at the time) and it was painfully obvious that their only goal was to get "students" to attend long enough for them to cash the check. If the sap dropped out too quickly, the feds would demand the money back. So the #1 goal of all of the faculty was to keep them coming to class until the deadline.
ToxMarz
(2,154 posts)Is that an offshoot of Corrections Corporation of America.
UpInArms
(51,252 posts)Drywall-ogy ...
After paying $50,000 ... you, too, could earn a minimum wage job
ROB-ROX
(767 posts)I think from pharmacy companies which sell drugs we do not need to companies selling education we need to change. This country has to get out of the WAR business and give us citizens FREE education and FREE health insurance. Those who can not make it at colleges will be worker drones.....The service industry require help until robots are invented.......