ITT Tech Gushes Cash

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The following article written by Ian McGugan , investment editor of The Globe, states that ESI, the parent company of ITT Tech(ITT Educational Services), ranks number 8 in the entire United States with respect to its cash position. In fact, Mr McGugan writes that ITT Technical Institute is actually gushing cash. ESI stock has a market capitalization of more than half a billion US Dollars. What does this mean? Investors worldwide have bought that many shares worth of stock in ITT Tech. The article that you see below was written by an investment specialist NOT an educator.

What is the secret to ITT Tech’s success? Their high-powered national TV and Radio advertising campaign lures in hundreds of new students or victims daily. They are much like Jack in the Box hamburgers….a substandard product with an enormous advertising budget. The students are actually customers that ITT Tech is trying to retain. Most ITT Tech students end up owing the school/business over $20,000 even if they do not graduate.  A relatively small percentage of the ITT Tech graduates get jobs like the ones portrayed in the well-known ITT Tech commercials you see on television.

ITT Tech spends more money on their advertisements and commercials  than they do on faculty salary and curriculum development. ITT Tech recruiters only care about getting you to sign on the dotted line. We know a guy that worked at ITT Tech in Dallas Texas. He said they go through instructors like paperboys. One or two instructors were quitting or getting fired every month. Does this sound like a place where you want to spend your hard earned money or accrue mountains of debt?

Chris Kirkham of the Huffington Post wrote an excellent piece detailing how for profit schools charge exorbitant tuition for an inferior education/vocational training. In closing, the cash that ITT Tech Gushes is for its shareholder NOT its students. Much of the money that you are paying in tuition drives up the price of the ESI stock and allows holders of the stock to retire earlier while you are paying back a student loan and still working the  same low-paying job you had before your ill-fated decision to enroll at ITT Tech.

ITT Tech Gushing Cash
ITT Tech Gushing Cash
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14 comments on “ITT Tech Gushes CashAdd yours →

  1. The opportunity scholarship is the latest way to deceive people into enrolling into the itt tech cash cow for investors. Investors win and students lose at itt tech. The opportunity scholarship reminds me of the points you get when making credit card purchases. Credit card companies do not mind giving you a little extra to run up high balances so they can charge you more interest.

    1. Right on Michelle. Read this from a career counselor in Torrance,CA. It was posted in a forum at indeed.com. BTW your name rhymes with Obama 🙂

      Hello Everyone,
      I’ve been a Career Counselor at ITT for three years and just recently quit. I was sick of watching the corruption and the lack of respect the Reps showed the students as soon as they signed them up. I watched Reps laugh at prospective students and call them “Suckers,” after they walked away.

      Out department was supposed to find jobs for students who never attended class and had no freakin clue what they were doing. If we couldn’t get them jobs, we were screamed at and threatened. ITT has to meet a certain quota of students that are signed up and employed, or the corporate division goes balistic. Most of the time the quotas are not made because the school is horrible. Don’t get any of this wrong…..ITT Tech is not a SCHOOL, it’s a Corporation dependent upon stocks.

      I’ve seen teachers leave in the middle of class and not come back. I’ve seen students passed, even though they never attended class, I’ve seen forged paperwork in order for a department to meet a quota, and I’ve seen the admin act like complete and utter Jerks. I’ve worked at two seperate campuses and both of them were horrible. Please do not take a job with this corporation. It’s a scam and it’s not a credible school. They can’t even get real accreditation.

  2. Michelle,
    First off…your not an admissions counselor..your an admissions recruiter…..so not knowing the real title sends up a red flag on your authenticity. Ive also see this same verbage used by another person…and it looks as though you copied and pasted your 3rd. paragraph from another posting.
    Opportunity scholorship was designed to reduce the cost to students, to call it something else is careless at the least. Opportunity scholorship puts tuition in line with the public sector.
    ITT Tech is a business…you got that one right…and like any other business the objective is not just to get students in the front door but also to graduate and see those grads secure employment. There are requirements to be eligable for finacial aid at the companies level…there are statistics that must be met to maintain accreditation, which allows schools to participate in title four financial aid programs….and with all the scrutiny on the industry these days and all the verification…these schools are doing a pretty good job. Lastly I would say you probably were not doing your job….if you are screamed at (which I doubt in todays H.R. world) you must have been doing little or none of your job duties.

    1. YO Blinky,

      Sorry about exposing you as an itt tech recruiter counselor. You still have time to get out. You wreck the financial well being of most of the people you sign up. You make more than 90% of the itt tech grads. Quit so you can sleep at night!

    2. I just realized why so many punks complain about ITT Tech. They were the same little babies who failed in high school and blamed their teachers. When they got tired of working at MacDonalds and other fast food places, they could only get accepted at for profit schools like ITT Tech. Guess what, the whiners are still bitching about the instructors at ITT Tech. That’s what you get for not working hard in high school kids.

      1. “Nearly everyone who works at McDonald’s will still get paid less than $10 an hour which is not nearly enough to pay the bills,” said Emma Stieglitz, who is the organizer for the protest group of McDonald’s employees who NOW WISH THEY HAD NOT BEEN TROUBLEMAKERS IN HIGH SCHOOL. That is the way life works kids. You all had chance, but you chose truancy and disrupting your classroom versus learning something and creating a decent career for yourself! I don’t care if you can’t pay you bills. Move back in with Mommy and Daddy if they will even have you back. hahahahahaha

      2. Did anybody take a course from Derek Braxton Sr. MBA/Instructor at Houston north ITT tech campus? It would have been da bomb if she and Judith Richard could have been team teachers before the federal government shut down that pathetic excuse for a school. After all they hired that nut case police officer from Dallas musgrave!!

        1. .snhu.edu southern New Hampshire university online has all the appearances of a degree mill. They play commercials with some minority bragging about being first to graduate from college or some middle aged guy donning mortar board walking in graduation ceremony. Don’t fall for it people. You will just end up in debt, working same low paying job, with a worthless degree.

          wgu is another 100% online university that you should avoid. Employers know that “students” can cheat their way through and get meaningless degree.

          I worked at a for profit school in Houston TX and saw first hand how they screw ignorant kids from trailer parks over!

  3. Over 30 billion tax payer dollars going to for profit schools like AIU and Itt tech. For profit schools “educate” 10% of the college students but are responsible for HALF of student-loan defaults!

    1. Suzanne Mettler, in her excellent work titled Degrees of Inequality, reports that ITT Tech gets 65.9% of its total revenues from the Federal Government. National American University, Universal Technical Institute, Capella Education Company, Strayer Inc, Career Education Corp., Corinthian, and Apollo Group(Phoenix) all rip off taxpayers in the name of “higher education”.

  4. I heard Seamus Ware was paid $6000 to do ITT tech commercial. Ware was shown kissing his wife and kids portraying a husband with a stable job. I was dean at school in Houston and quit because I felt a moral obligation to not work at place that puts all its students in enormous debt and finds decent jobs for maybe one out of 50 graduates.

    1. The ad regarding Electronics graduate Christian Portillo is fake. That was not his house where commercial was filmed. ITT Tech makes money off of pure deception. DO NOT enroll there!

  5. Professor Joel Bunkowske of Drvry held the baby toddler of Single mom Amanda Osbon in front of class while continuing his lecture. Amand has 4.0 GPA just like more than half of all students/customers at for profit schools/businesses. Hilary posted page on Facebook and CNN provided the free advertisement. Mary Xmas Devry!

  6. Is New Mexico highlands university with the marketing slogan “we know the power of dreams” in the same for profit category as ITT TECH?

    I heard nmhu paid around twenty grand for catchy marketing gimmicks to break into the very competitive business niche of for profit education.

    When that phrase gets stale in advertising jargon, they pay another 20 grand to lure for another catchy marketing phrase in other unsuspecting victims who will amass enormous student loan debt.

    What’s bad is that $20000 cones straight from student tuition dollars

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