ITT Tech Closes, New Model of Education Rises
A New Model of Education
The 2016 closure of ITT Tech highlights the time barriers, financial risk, and poor career prospects that are finally catching up with the traditional for-profit education industry. So what can students do instead?
Forbes Magazine ranked San Antonio as the American city with the 15th highest rate of job growth in 2015 – no surprise given our city’s recent swell in tech and entrepreneurship. The boom has created a mismatch between a surplus of available jobs for developers and a shortage of local technical talent. Codeup, a career accelerator that trains software developers and data scientists, has begun bridging that gap by training over 700 students and creating over $7 million in new tech salaries since 2013.
Codeup is different from traditional models of continued education. Four-year universities and two-year technical schools often no longer serve students’ needs. The closure of ITT Tech, one of the nation’s largest for-profit educational institutions, is a great example. Tuition at schools like ITT Tech, DeVry, and Kaplan is high ($45,000 – $90,000), they have been found to use predatory lending practices, and they rank highest among colleges that leave students in the most debt. Graduates of ITT Tech San Antonio who received federal financial aid earned an average salary of only $38,400 ten years after completion, just barely above the national average for the category. Their overwhelming time commitment, high tuition fees, and limited career support make it hard for students to complete degrees and advance their careers.
ITT Tech Closes, Another Door Opens…
Given the decline of these diploma mills and a changing jobscape, other forms of education have exploded. The new reality is that the traditional college student archetype is now a minority, while demands for alternative, dynamic educational models are only increasing. Students need a better way to enter the workforce with relevant technical skills.
As a six-month intensive career accelerator, Codeup offers something special: a place where students can find like-minded peers and launch a new career. Our classroom-based program turns non-techies into software developers. In addition to excellent technical instruction, students receive one-on-one career guidance and gain opportunities to connect with employers. If a graduate cannot find employment within 6 months, Codeup offers a tuition back guarantee. We partner with multiple reputable loan and grant partners to make financing easy, and also accepts GI benefits. Graduates have increased their salary by $17K in the first year on average.
In light of the recent closings of ITT Tech across the country, students should pause to reconsider their educational path choices. Codeup is Texas local, dedicated to providing students with community, professional independence, and technical literacy. Are traditional models the best option, or might Codeup offer something better?
If you want to learn more about that, call us. We’re always here to help!