I graduated from ITT earlier this year, so I have had a few months of making payments on my fine education. It is kind of shocking, even though I knew it was coming, and I saw the huge loans month after month. I was also paying back as much as I could while going to school, which accounted for close to $20,000 in payments already being made.
The end result?
Nearly $80,000 in student debt to repay.
How much do you make right now? Think about it, because ITT in all likelihood is not going to find you a job. Even if they do, you are going to start in the $15-20/hr level.
My current repayment plan costs $1000 per month and that's after paying back $20,000 already!
Using a financial aid calculator, my estimated salary to pay that back "without inducing financial hardship" is $110,476.80. Let me tell you, I do not make anywhere near that, and I have a decent job (no thanks to ITT.)
Of course you can extend the payment terms of your loan, which will lower your monthly payment, but it also increases your interest. So let's say you want to only pay $600 a month instead of $1000. Guess what? You will be paying for school for the next 20 years, and will pay nearly DOUBLE for it. $66,000 in interest alone. Almost $150,000 total!
So one last time, can you afford to pay $1000+ a month for school? If not, you can go to a regular college for what you would pay in interest at ITT.
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Hi Josh I stumbled across your site and would love to talk with you about some of your posts. I am a research consultant for an investment firm that is looking to understand more about ITT's lending policies. I was wondering if I could talk to you about your experiences with the company. I can assure you that our conversation will be purely for background purposes and will remain confidential. If you want to learn more about me, you can check out my profile here: www.linkedin.com/in/rivaatlas Please let me know if you have time for a quick conversation later this week. You can reach me at rivaatlas@nextwave-research.com.
Thanks and Happy New Year!
Riva Atlas
My brother was going to go to ITT and I asked him how much his first semester alone was going to be. He said 14k. I told him to call up and cancel immediately and sign up at our local community college. I told him my bachelor's was about 35-40k for 4 whole years (This was back in 2001-05 and I was grateful to have my parents pay for that) I paid for two years myself to get some extra certifications and an associates since a Masters was too expensive for me and it was only 7500. His eyes were the size of dish plates and I'd never seen anyone reach for their phone so quickly, not even for a booty call. Now he has an associates, is down to 950 on his loans, and is an assistant manager at a vendor to my telecom company. Not too shabby. Listen to this guy, run while you can
It’s estimated that roughly 70% of student loan borrowers qualify for all type of student loan forgiveness program. Did u check your eligibility?
Just Call 855-895-0249 today to see if you qualify..
Agents are standing by to walk you through the process. We will prepare and submit on your behalf all the documents required by the Department of Education to get you enrolled in a student loan repayment program. Our advisors will identify the best program that you qualify for and which will offer you the greatest benefits. Our services are aimed at taking the burden off of you. You relax and we do all the work!
I'll be in debt for over 20 years unless I end up qualifying for some forgiveness. I graduated from the Mobile Communications program in 2013. Which they nixed as soon as my group finished because they couldn't get anyone else to sign up for it. I signed on for the Electrical Engineering program soon after because I could not get a job with the first degree and some credits transferred into my next degree. I ended up having to take a couple of same classes and getting the same book twice. This isn't even the worst of my experience with this school. I'm glad the government is finally cracking down on for-profits. Or they appear to be doing so at least.
According to the College Board, the average cost of tuition and fees for the 2015–2016 school year was $32,405 at private colleges, $9,410 for state residents at public colleges, and $23,893 for out-of-state residents attending public universities. If you look at the numbers it has nothing to do with ITT but everything to do with the cost of obtaining higher education. These other universities and colleges do not find you a job either. In fact, you have to network and find your own job and negotiate your own salary.
Take that trash analysis to the government, who is shutting down ITT Tech. :D ITT is an absolute trash hole.