ITT Technical Institute was hardly a fly-by-night operation. After 50 years in business as a for-profit technical school it was forced to close down after losing its accreditation and, shortly afterwards, eligibility for federal student loans. It’s merely the latest blow to the for-profit education market after the closing of Corinthian Colleges in 2015 and the dramatic paring back of the previously aggressive University of Phoenix.
Is there a future in for-profit education? Does the free market work, or should education be entirely run by and for the public?