ITT Technical Institute will close all of its campuses, creating the largest college shut down in history. The for-profit college chain will displace about 35,000 students and 8,000 employees. After a string of lawsuits against ITT Tech, the Department of Education banned the college from enrolling new students last month. The school also faced new, rigorous financial requirements from the government. If displaced students can't find an educational institution that will accept their transfer credits, they have the right to cancel their loans.
Are you currently staring at your newly-framed diploma, dreaming of the millions of dollars coming your way? Keep dreaming, says a new study from the Washington Center for Equitable Growth. The center concludes that even with a shiny college degree, securing high-paying employment is becoming increasingly difficult over time. The study relied on data from the United States Census Bureau to disprove the notion that America's economy is in need of highly-skilled workers. In fact, it argues the opposite: highly-skilled workers (read: those with degrees) are often left settling for work below their skill level or pay grade. Raise your hand if you've ever felt personally victimized by the slow-adapting work force? *raises hand*