What is ITT Tech
ITT Tech is a system of private colleges operating in most states with many thousands of students and a great reputation regarding its graduates.
What Happened to ITT Tech
ITT Tech played out the reality outlined in Ayn Rand’s predictive book “Atlas Shrugged.” The State has moved into the realm of banking. By acting as a bank, it has offered huge sums of leverage to students without any collateral other than the threat of future violence. ITT Tech, in a world where there are no loans from the state would most likely be one of the top private schools in the world at the most affordable rate and with one of the highest returns on investment. Instead, because of the leverage from the state, students quickly became dependent on those funds and of course the school adjusted its way of operating to meet those requirements. Of course, as always, quickly the State decides what the policy and curriculum is going to be because the state is the one paying out the loans. Taking a subsidy from the state is the same as taking a loan from the mafia in order to gamble. Always, without exception, the piper will come to get paid and give orders.
The difference is, that when it is the state and not the mafia, there is no choice but to not take the money.
Competition and Privacy is the Key to Good Education
By the state coming in and making demands that would seriously hurt the efficiency and proficiency of the school and the education of the students at the threat of basically violence, they destroyed the school and the thriving business and the temporary lives of the thousands of students. By so doing, the State is essentially removing competition and efficiency from education. The destruction of this college is the destruction of freedom because so much of the economy is based around education and this is a powerful warning shot to many not to move into a world now dominated by loans made by money forcibly taken from the citizens.
The Death of ITT Tech is the Death of Freedom
Reading about and hearing of the planned governmental destruction of ITT Tech breaks my heart. It is a huge blow to freedom, it is a blow to America, it is a blow to the republic, and it strongly signifies the dark era that we are moving into where innovation, excellence, efficiency and talent are punished and are forced to grovel to the all decadant hand of the state.
Who is Next?
Because all educational institutions take on students who then take money from the state to pay for their education, who is next? Are all religious universities next on the chopping block? Will BYU or Notre Dame be completely destroyed because they became dependent on students who are dependent on the state? Hopefully there will be shinning lights on the hill of institutions who can weather the storm of forced subsidization and command and control regulation.
Abolish the Department of Education
What is the true answer, support politicians who call for the establishment of the super evil department of education and for a nationwide end to the student loan program. The constitution does not allow for the state to act as a bank and by the state so doing it is creating a massive and unsustainable bubble that has potential to destroy the entire economy.