“In response, over the last couple of years, we at the Department of Education have increased our financial oversight over ITT and required the school to boost its cash reserves to cover potential damages to taxpayers and students”.
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Want to know if your credits will transfer or not?
Students at 140 campuses across the country learned Tuesday that ITT would not begin classes as scheduled, but was closing down in the face of federal sanctions targeting its recruitment practices, including promises about enrollees’ job prospects. It was rarely used until the 2014 collapse of for-profit chain Corinthian Colleges, which forced the Education Department address re-evaluate the standard used for reviewing appeals for debt relief.
“I hope Ohio’s ITT students will look into this option and continue their education”.
Late Tuesday afternoon, we heard that some students have been talking with other schools, including ECPI and American National University, but it’s still unclear if credits will transfer.
However, she said private loans may not be eligible in the same way. “We have to look at each individual”.
In a letter to more than 35,000 students, the Indiana-based parent company ITT Educational Services announced that campuses won’t open for the fall term that was scheduled to begin September 12 – leaving students scrambling for last-minute options since many USA colleges already have started fall classes.
For-profit schools tend to rely heavily on federal student aid. About 45,000 students were enrolled in ITT programs in 2015. “We are trying to help our students because that’s the right thing to do”.
There are hundreds of millions of dollars in loans for students at ITT that may now have to be forgiven, according to the Wall Street Journal. Those students also said they are having issues accessing their completed transcripts.
One student stopped by the Murray campus looking for answers, only to find the doors were locked. Register for the event, here.
The Education Department has a website, studentaid.gov/ITT, with more information and plans to host webinars on Wednesday. Winter session classes begin on December 22.
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There is a seminar on Wed., Sept. 7 at 2 p.m.at the Learning Center, 777 N. Rainbow Blvd.
