
ITT Tech Is Officially Closing - grej
http://gizmodo.com/itt-is-officially-closing-1786243058
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johan_larson
Any theories on why the intersection of education and for-profit tends to be
such a shitshow? The best educational institutions are non-profit pretty much
across the board.

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typetypetype
For-profit companies have pressure to show consistent revenue growth and this
becomes their #1 priority. In the case of ITT tech, a large amount of their
revenue came from tuition backed by federal loans. Non-profits schools have a
similar pressure for their endowment fundraising, however that revenue comes
mostly from alumni and not new/current students.

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calgoo
Same as hospitals and prisons. The goal of the company does not align with the
expected service. The goal of a company is to make money for shareholders and
investors. This causes issues when normal corporate practices such as cost
cutting happens, because a lot of time, there is no place to cut without
lowering the quality of the service. The good people get frustrated and leave,
and its left running by skeleton crews, mostly filled with people who have no
problem squeezing every cent from their customers.

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macintux
Discussion taking place under the Bloomberg piece:
[https://news.ycombinator.com/item?id=12435978](https://news.ycombinator.com/item?id=12435978)

