CLEVELAND – More than 40,000 students and 8,000 employees at ITT Tech are searching for answers after ITT Technical Institute shuttered its doors at more than 130 campuses nationwide.
The for-profit college has been around for the last 50 years.
But in recent months, they’ve been under investigation by federal authorities who were investigating allegations of fraud and deceptive marketing tactics.
Just a few weeks ago, the U.S. Department of Education halted the enrollment of ITT Tech students who would be reliant on federal financial aid.
They also told the company to warn students that the institutions accreditation was in jeopardy and ordered ITT Tech to increase its cash reserves.
The new sanctions proved too much for the school to handle, leading them to closing.
ITT Tech’s program information page online explicitly states that “credits earned are unlikely to transfer,” meaning seriously losses for students in terms of time and money.
But students who borrowed money from the federal government may get a break via the closed school discharge program.
The program would allow loans to be forgiven in certain cases.
Students looking for more information should use the following links:
- Important Information Regarding ITT Educational Services, Inc.
- Increased Oversight of ITT and the Impact on Students
- Closed School Discharge Criteria