Israeli Tech College Shuts Down, Leaving Students Out Thousands of Shekels
Translated & summarized from Mako by baba
SVcollege, an Israeli tech training institution, has suddenly closed its doors due to financial difficulties, leaving approximately one hundred students unable to recover thousands of shekels paid for courses. Students reported receiving emails announcing the closure and stating that refunds would not be possible. Affected students, including disabled veterans and those who had already begun their studies, are organizing to file lawsuits. The college cited complex business realities and market changes, stating it is preparing for insolvency and cannot guarantee reimbursements.
The story in 6 lines · by baba
- SVcollege abruptly closed, leaving students unable to recover thousands of shekels paid for courses.
- The college cited complex financial difficulties and accumulated losses as the reason for its closure.
- Students were informed via email that refunds would not be possible due to the financial distress.
- Approximately 100 students are reportedly organizing to file a lawsuit against the institution.
- The college stated it is preparing for insolvency proceedings and cannot guarantee reimbursements.
- SVcollege was previously reported for alleged lawsuits against former students who criticized it.
Students at SVcollege, an Israeli tech training institution, were abruptly informed via email that the school is ceasing operations due to severe financial difficulties and accumulated losses. The college stated it cannot offer refunds to students who paid thousands of shekels for courses, some of which had already begun. In the email, the college expressed deep regret, citing complex financial challenges that prevent it from continuing its activities. One student, Elhanan Tzabari, a disabled IDF veteran, paid 10,000 shekels for an AI course and took out a loan to cover the cost, hoping for reimbursement from the Ministry of Defense. He described his devastation upon receiving the news, stating, "As soon as I understood this message wasn't a joke, I simply started to cry." Another student, Or Shimon, who paid 7,800 shekels for a social media management course, reported that classes were repeatedly postponed before the closure announcement. He noted that college staff and lecturers have also been laid off. Kaya Arshi, who paid 11,000 shekels for a software testing course she had already started, expressed feeling "ripped off." Approximately one hundred affected students are reportedly organizing to file a lawsuit against the college. SVcollege's response indicated that the company has faced a complex business reality, exacerbated by ongoing conflict and significant changes in the high-tech market. Despite taking out millions in loans to sustain operations, the company is now facing significant financial distress and is preparing for insolvency proceedings. Consequently, it cannot guarantee refunds to students or other creditors at this time, with any claims to be handled within the legal process. The college was previously reported in 2019 for allegedly suing former students who criticized it and for sending undercover agents to monitor former students' private lessons.
