Thanks to the overreach of for-profit "educators"...

Discussion in 'Politics, Religion, Social Issues' started by LizKat, Nov 2, 2016.

  1. LizKat macrumors 603


    Aug 5, 2004
    Catskill Mountains
    Another for-profit college files for bankruptcy, leaving students struggling to find their next step.

    So it seems that Career Point College abruptly closed about a month ago, and a spokesman now claims it's trying to help the students continue their education elsewhere. Meanwhile the kids can probably get federal loan forgiveness but would be stuck with any private sector debts.

    Dickinson of San Antonio Inc., the local firm that did business as Career Point College, filed for bankruptcy protection Monday, nearly a month after the for-profit school abruptly shut down.

    The closure, which came after the government yanked the school’s ability to accept federal student aid, interrupted the education of 1,400 students in three cities and led to lawsuits in which 75 of them are now plaintiffs.

    Dickinson reported assets of less than $50,000 and liabilities ranging from $1 million to $10 million in the emergency Chapter 11 petition filed in U.S. Bankruptcy Court in San Antonio.

    This outfit seems especially ruthless as far as profit-seeking goes... they are alleged to have charged students extra money even for appointments with the financial aid offices. Wow.

    Looking at some identified creditors... a lobbying group looms large, natch.

    Topping Dickinson’s list of largest creditors is Cox Media Group, owner of seven area radio stations, which is owed $591,625 in trade debt. Other creditors include the owners of Wonderland of the Americas, owed more than $111,700 in rent, and the Washington, D.C., lobbying firm the Normandy Group, owed $80,775.
    Ironic that the Wonderland of Americas mall is a creditor. Wonderland indeed. These guys weren't even paying the rent? Just last year Career Point was expanding space taken at the mall.

  2. BoxerGT2.5 macrumors 68000


    Jun 4, 2008
    Can people start taking responsibility about who and where they send their money to for Education?

    If that's the website you stumble upon and think, "Hey I want to go to school, lets send them $10k", you're an idiot. If the college has a catchy tune on the radio or TV, keep looking.

    The average tuition and fees: $24k + The average annual salary after graduation" $20k=You're a ****ing idiot, please use birth control.
  3. samcraig macrumors P6

    Jun 22, 2009
    I'm not going to argue with you - but that website looks like a throw up based on current resources and caring. If you look (I picked a random date in 2013) via the internet time machine - you can see it was a normal website
  4. NT1440 macrumors G5


    May 18, 2008
    These companies don't direct you to a website, they advertise to the moon (think Phoenix University) and tend to work with students directly over the phone..

    Also, last I checked in America you don't place the onus on the scammed for what the con artists pulls off.
  5. jnpy!$4g3cwk macrumors 65816


    Feb 11, 2010
    Yet, that is exactly how Donald Trump operated with Trump University, and, has mostly gotten away with it. And was rewarded by Republican primary voters for it.
  6. mobilehaathi macrumors G3


    Aug 19, 2008
    The Anthropocene
    Actually, there's quite a few US Americans who prefer to blame the victims.
  7. thermodynamic, Nov 2, 2016
    Last edited: Nov 2, 2016

    thermodynamic Suspended


    May 3, 2009
    You forget that when a person starts a program, to stop going means no degree and no refund.

    You also forget people go to learn and have no ****ing clue and have faith in believing the college has done its work in good faith beforehand. You know, work.

    Gee, you make it sound ever so simple? Or do you do similar sorts of robbery and swindling and are trying to cover your ass by blaming the customers who ironically go to these places to get the education companies need? Sorry if that's harsh, but it's as much a possibility as anything else.

    Also, since a good school can go bad I suppose (unless you suppose or, better yet, know that they do?), how the hell do you put a system that prevents them from going bad? You tell us, you clearly act as if you know more than anyone else - oh, and don't try to bamboozle us with ********, much thanks. Or are you so holier than thou? Maybe you should spend more in birth control? (You started it, don't get mad when your solution is applied right back at you because it's your solution. Get some empathy, then grow up. Thank you. )

    Also, do you blame rape victims because they look pretty and as such are always asking for it? Just curious.
    --- Post Merged, Nov 2, 2016 ---

    Which only goes to show how god damn ****ing backwards America has become. Don't like my language? I'm positive polite by comparison to a HUGE number of other people who have been scammed and for worse... people who have an issue should go outside of the proverbial basement and ask people out in real life. Or their representatives here.

    --- Post Merged, Nov 2, 2016 ---
    In America.

    But the same people want the unregulated free market and think it will regulate itself since that is what they also tell us when defending a clearly failed system (whose scope transcends this one thread). And who knows if they've been scammed and a) never realize it, b) are too ****ing embarrassed to realize it, c) do the scamming , or d) any of the above, e) option d combined with senses of irony and ironic irony
  8. BoxerGT2.5 macrumors 68000


    Jun 4, 2008
    When the con is obvious, I tend to put equal blame on both sides. People not reading their mortgage documents or understanding basic interest rates qualify as a group who was "scammed" according to some.
  9. NT1440 macrumors G5


    May 18, 2008
    As the wayback machine showed you, clearly, the website you referred to was dramatically different when this "school" was fully operational. Way to cop out.
  10. daflake macrumors 6502a

    Apr 8, 2008
    This is true, but if the red flags are there, you should be cautious to whom you give your money. The problem is that when companies like this are allowed to call themselves "colleges", there is a level of trust that is levied and people become foolish.

    I think these so called "colleges" should have their leaders behind bars.
  11. A.Goldberg macrumors 68020


    Jan 31, 2015
    Are people getting "conned" here or just getting a god awful education. That website btw is atrocious. As a business I suppose they're allowed to charge for whatever they want. But this is the type of thing when businesses go bankrupt- the innocent people get screwed over.

    That said, I believe perspective students are obligated to perform due dilligence about what school they decide to go to.

    It's like buying a used car without a warranty. If you're smart, you'd take it to a mechanic and have it checked out -or- research what you should be looking at, especially based on the model of car. If you're not, you risk driving off the lot with catastrophic failures waiting to happen.

    It does seem however that there should be more required reporting and transparency laws for such academic institutions, if there are not already. It seems like their creditors might have not exactly been up to speed either.

    The government or some institutional body needs to also cut off these "colleges" before they tank to protect the students who have invested in them.

    My old landlord of a very nice apartment building ended up going bankrupt and not returning my security deposit. The guy was a huge fraud and I managed to get my security desposit back because in a stupid attempt to save his business from other legal catastrophes in his imploding life signed the property/business over to his father (without telling anyone). I wouldn't have known unless my lawyer uncovered it. Bankruptcy sucks.
  12. colourfastt macrumors 6502a


    Apr 7, 2009
    Caveat Emptor

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11 November 2, 2016