“And normally, if I was a for-profit college, I would find this money by enrolling and recruiting new students”.
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Almost 8,000 employees lost their jobs and 35,000 students are looking for a new college.
The Department of Education said ITT’s creditor, Accrediting Counselor for Independent Colleges and Schools, ACICS, said ITT is not in compliance with criteria to stay accredited. According to the U.S. Department of Education, it is still valid because it was obtained during the time ITT Tech was an operational institution.
Former U.S. Sen. Tom Harkin, D-Iowa, has also called for more oversight of ITT and other for-profit colleges. The D.O.E. said, if students were enrolled to ITT Tech in the last 120 days those students can apply to have their loans erased.
ITT Educational Services announced it is closing all of its ITT Technical Institutes permanently, including campuses in the Milwaukee area.
ITT Technical Institute, one of the nation’s leaders in technical and industrial education, shuttered 130 campuses nation-wide, include three of their campuses in Houston, after the Department of education denied access to federal financial aid funding for its student body. In addition to the ban, federal education officials have also prohibited the school from giving pay raises to its executives. The federal government is offering students two options to help.
O’Brien says SMC is reaching out to the hundreds of regional ITT Tech students who are out luck to see if they can get enrolled in its similar programs.
Students like Diana Rencher said they received an email Tuesday morning alerting students to the closing.
Students will not be eligible for the Discharge if they choose to transfer credits and complete their program of study or a comparable program at another school.
Students can forgo the present opportunity of earning a degree and have their federal student loans forgiven.
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The Department of Education, though, doesn’t want students to give up on their studies.
