College Closes Abruptly, Students Lose Thousands in Tuition
Translated & summarized from N12 by baba
SVcollege, an Israeli institution offering high-tech courses, has abruptly closed its doors, leaving approximately 100 students unable to receive refunds for tuition payments totaling thousands of shekels. Students reported receiving emails announcing the closure due to "complex financial difficulties" and accumulated losses, with the college stating it cannot guarantee reimbursements as it prepares for insolvency. Some students, including IDF disabled veterans, had taken out loans for the courses and are now facing financial ruin. The college previously faced accusations of suing former students who criticized it.
The story in 6 lines · by baba
- SVcollege abruptly closed, leaving students unable to obtain refunds for thousands of shekels paid in tuition.
- The college cited "complex financial difficulties" and accumulated losses as reasons for its immediate closure.
- Students expressed feelings of betrayal and financial distress, with some having taken out loans for the courses.
- Approximately 100 students are reportedly organizing to file a lawsuit against the defunct institution.
- SVcollege stated it is preparing for insolvency proceedings and cannot guarantee refunds at this time.
- The college has a history of controversy, including past accusations of suing critical former students.
Students at SVcollege, which offered courses for careers in the high-tech industry, were shocked to receive an email announcing the institution's immediate closure. The message stated that due to complex financial difficulties and accumulated losses, the college could no longer continue its operations. Many students had already begun their courses or were scheduled to start after the holidays, and the email informed them that their tuition payments would not be refunded.
Students expressed feelings of betrayal and distress, with some reporting they had paid thousands of shekels for courses that would now never be completed. Or Shimon, who paid 7,800 shekels for a social media management course, said he was repeatedly told the start date was postponed until he received the closure notice. Elhanan Tzabari, a 51-year-old IDF disabled veteran who paid 10,000 shekels for an AI implementation course, described his devastation, noting he had taken out a loan for the tuition with plans for reimbursement from the Ministry of Defense.
Kaya Arshi, who paid 11,000 shekels for a software testing course she had already started, felt she had been "ripped off." The students are reportedly organizing to file a lawsuit against the college. Former employees, including lecturers, have also been dismissed, leaving students with no one to contact for answers.
SVcollege issued a statement attributing its closure to a challenging business environment, ongoing conflict, and significant shifts in the high-tech market. The college claimed to have taken out millions in loans to maintain operations. It stated that upon realizing it could not fulfill its commitments, it immediately stopped selling courses to new students. Regarding refunds, the college indicated it is facing severe financial distress and is preparing for insolvency proceedings, meaning refunds cannot be guaranteed at this stage and will be subject to legal processes.
This is not the first time SVcollege has faced controversy. In 2019, it was reported that the institution had a history of suing former students who criticized it, even allegedly sending undercover agents to observe private lessons to gather material for copyright infringement lawsuits.
