ITT Tech Students Should Take Their Money And Run, Experts Say | NBC News

The shuttering of all ITT Technical Institute locations is leaving its 43,000 students with an unexpected lesson in harsh realities and unanswered questions about what will happen to their credits and tuition fees.

The closure of 137 campuses in 39 states comes after the career-oriented school has been the subject of several state and federal investigations.

In a 2014 lawsuit filed against ITT’s parent company, the Consumer Financial Protection Bureau alleged that “Federal aid, mostly loans taken out by consumers, comprises the overwhelming majority of ITT’s revenue” and when that funding wasn’t enough to cover the full cost of tuition, the CFPB accused the company of “Pushing students into expensive, high-risk loans that ITT knew were likely to default.”

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