Tag Archives: ITT Tech

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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ITT Tech has ceased enrollments | Business Insider

For-profit educator ITT Technical Institute announced Monday that it will no longer accept any new enrollments, according to a notice at the top its website.

The news came four days after the US Department of Education (ED) imposed sanctions on ITT Education Services, the college chain’s parent company, barring the school from enrolling students who use federal financial aid and requiring ITT to provide a letter of credit showing it’s sufficiently funded.

Those sanctions will likely cause the demise of ITT Tech, according to Ben Miller, a senior director at the Center for American Progress and a former senior policy advisor at the Department of Education (ED).

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