- Report: #872792
Report - Rebuttal - Arbitrate
Complaint Review: ITT Technical Institute/Sallie Mae Lending
ITT Technical Institute/Sallie Mae LendingKing Of Prussia, PA/Nationwide king of prussia, Pennsylvania United States of America
ITT Technical Institute/Sallie Mae Lending Stealing America's Future king of prussia, Pennsylvania
*Consumer Comment: Wonderfully Put
*Author of original report: Yes, Really
*Consumer Comment: ITT Tech considered a joke in the IT industry
*Consumer Comment: Really?
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thousands of others online. ITT Tech & Sallie Mae MUST be stopped before our future is over. Help me, Help the future of America
This complaint is with this school in this particular location, as well as the entire corporation. This corporation is ruining thousands of young peoples lives. The problem with the economy is that the youth that should be building their
futures to help restore the economy and reinvest their money, cannot do so because they are in massive amounts of debt.
These innocent individuals, including myself were tricked into thinking that ITT technical Institute would be an investment into our future. A quick education that would make our future secure. An education that would lead to great things and wonderful careers.
However, these dreams by thousands of individuals were crushed by ITT's lies of: transferable credits, low payments and a valuable education. On top of it all, predatory lending by Sallie Mae was thrown in. Can you name any legitimate financial institution that would lend a 20 year with no prior credit history, $20,000 based on a $10/hr career at Wendys? I cannot! This is predatory lending!
After graduating at this "Educational Institute" I was denied a entry level job in the field that I devoted 2 years of my life and a 3.85 GPA to. I was lucky enough to get another job at this place of employment based on my skills that I had acquired
before I even entered the "Educational Institute". After 6 months from graduating with an Associates degree for a 2 year program I received payments from Sallie Mae that were over $600/mo. That is outrageous! Little did I know, I was
tricked into these private loans that had interest rates as high as 16% at times!!!!! If I would have been told at registration(where I was basically forced to pay $150 to register, given a math test that my dog could excel in,
and pressured to apply) that my loans would be >$600 you can imagine that I would have been out of the parking lot faster than you can say "Scam". However, they did no so such thing. They painted a beautiful picture of lovely dreams that would soon turn into my nightmares.
After placing my loans into forbearance I decided that my Associates degree from this fine "Educational Institution" was going to get me no where and I gained no skills (3.85 GPA) I decided that I needed to choose a secure future that
would give me an excellent job and better hope than ITT. I went to school at Central Pennsylvania College, part time-year round and graduated once again with honors in 4 years, with my Bachelors of Science in Accounting. Keep in mind that this was a y year accredited college which was only slightly more expensive than a 2 year "education" at ITT. Once I
graduated with my bachelors, I decided I wanted to become further educated with my dual MSF/MBA which I am currently pursuing. While I was at a the 4 year school, Sallie Mae/ITT loans were in deferment. In September I received my
bill for Sallie Mae where my payments were >$800/mo.
That is a small mortgage where I live. That is insanity. I had thoughts of leaving the country, of ending it all. Why shouldn't I? My financial future was soon to be over. I would have to get another full-time job to pay this loan by itself with all my
other expenses. All of this for an "education" that was worthless. Out of all the things I've done in my life, I never thought that I would have to suffer this much and pay so harshly for something that I was doing to better myself and become an educated citizen of America. The youth of America, is where the future of the country lies right? If it weren't for my parents helping me and putting a lien on their house to consolidate the astronomical loan from my ratty 2 year "education" I would be forced to default, forced to never have a house in the future, forced to possibly end up jobless due to poor credit.
However, I am now luck enough to be the proud owner of a $64,000 loan (36,000 in interest alone) that will require $500/mo payments over the next 15 years of my life. I will not be able to move out from my parents house unless I can get a phenomenal job in the future with my post ITT education, and being 29.. the children that I hoped I would be having, will have to wait for awhile as well.
Please, I am NOT the only one. I consider myself to be one of the luckier ones that can scrape by with the help of my parents. So many other peoples lives are being ruined due to this one institution and its partner in crime Sallie Mae. I am almost 100% positive that people have taken their lives over this massive amount of debt that crushes their hopes and dreams, weighs on their shoulders every minute of every day. I know the thought crossed my mind, and I have many other
reasons not to. Thanks to the government turning its back and people stealing innocent souls and hard earned money, I will be under this weight for a long time to come. I don't mind paying for things that benefit me, for my education, my real education I recently received and am currently earning, but I have a problem with being lied to. I feel like my future has been raped. Help me stop it from happening again to other people that are not as fortunate as me, with parents that can put a lien on their house. Help me start a class action lawsuit and win back the future of America.
This website as well as many others have the heartbreaking stories of hundreds of people who have lost their futures due to ITT & Sallie Mae
This report was posted on Ripoff Report on 04/23/2012 08:27 PM and is a permanent record located here: http://www.ripoffreport.com/r/ITT-Technical-InstituteSallie-Mae-Lending/king-of-prussia-Pennsylvania-19406/ITT-Technical-InstituteSallie-Mae-Lending-Stealing-Americas-Future-king-of-prussia-Pen-872792. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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