Latest Breaking News

pstokely

(10,528 posts) Tue Dec 18, 2018, 02:14 AM Dec 2018

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 Vatterott’s 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 school’s 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

6 replies

= new reply since forum marked as read

Highlight:

Vatterott immediately closes all campuses (Original Post) pstokely Dec 2018 OP

Sounds maybe like Department of Education put the brakes on the gravy train pecosbob Dec 2018 #1

The owners of Vatterott should be in jail for fraud. nt SunSeeker Dec 2018 #2

They get all of their money from federal financial aid. eggplant Dec 2018 #3

Education Corporation of America ToxMarz Dec 2018 #4

A place where you could get a degree in UpInArms Dec 2018 #5

This country has to DIVORCE itself from "BIG BUSINESS" ROB-ROX Dec 2018 #6

pecosbob

(7,541 posts)

1. Sounds maybe like Department of Education put the brakes on the gravy train

Reply to pstokely (Original post)

Tue Dec 18, 2018, 02:28 AM

Dec 2018

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

(51,571 posts)

2. The owners of Vatterott should be in jail for fraud. nt

Reply to pstokely (Original post)

Tue Dec 18, 2018, 02:36 AM

Dec 2018

eggplant

(3,911 posts)

3. They get all of their money from federal financial aid.

Reply to pstokely (Original post)

Tue Dec 18, 2018, 03:18 AM

Dec 2018

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

(2,169 posts)

4. Education Corporation of America

Reply to pstokely (Original post)

Tue Dec 18, 2018, 09:59 AM

Dec 2018

Is that an offshoot of Corrections Corporation of America.

UpInArms

(51,284 posts)

5. A place where you could get a degree in

Reply to pstokely (Original post)

Tue Dec 18, 2018, 10:14 AM

Dec 2018

Drywall-ogy ...

After paying $50,000 ... you, too, could earn a minimum wage job

ROB-ROX

(767 posts)

6. This country has to DIVORCE itself from "BIG BUSINESS"

Reply to pstokely (Original post)

Tue Dec 18, 2018, 04:06 PM

Dec 2018

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.......

Reply to this discussion