Students who graduated from the school within the past six months would be eligible to have their loans forgiven if they want to start over at another school.
Advertisement
The school said it had to eliminate more than 8,000 employee positions.
“The company, which operates vocational schools, announced, “with profound regret” in a statement Tuesday that it is ending academic operations at all of its more than 130 campuses across 38 states …” including Virginia.
It wasn’t only the Education Department that punished ITT. “I know a couple of students, they claimed they came here, they didn’t learn anything”. Back in August, the board of education banned the college from enrolling new students who rely on financial aid to pay for their education after the school was experiencing financial issues. There are two ITT Tech campuses in South Florida. DoE also tightened its financial oversight of ITT Tech.
ITT Educational Services CEO Kevin Modany told reporters on a conference call Tuesday that ITT Tech was the victim of a “regulatory assault” and never had the chance to defend itself. We communicated with all students this morning informing them of key information including how to receive grades and transcripts, articulation agreements, what other schools are near them that may offer similar programs of study.
ITT Tech released a statement, saying, in part “We believe the government’s action was inappropriate and unconstitutional”.
The closure comes after federal sanctions were imposed against the company for deceptive recruiting techniques.
According to emails from the Department of Education which were sent to students, ITT Tech couldn’t meet certain standards. While students in Clovis grapple with the news they’re forced to try to look to the future. For years, the company exploited students and fleeced American taxpayers.
Corinthian Colleges filed for Chapter 11 bankruptcy protection in May of 2015 in the wake of alleged predatory lending practices and accusations of inflated job placement numbers, leaving about 16,000 students stuck without a degree, and thousands more with huge debts.
“First of all, cancel all payments to the school”, Healey said.
“It felt like somebody kicked me in the stomach”, said nursing student, Richard DePriest.
“I have four-year students who are about to graduate and are a few credits short [and] I can’t imagine what they are going through”.
Students who enrolled at ITT Tech within the last 120 days can apply to have their federal student loans erased by the Education Department.
Advertisement
“I’m disappointed in ITT”, he said. “Since ITT Tech was not regionally accredited, students seeking to transfer credits may need to pursue credit by examination”.
