The for-profit college chain ITT Technical Institute, which runs a school in Lake Mary, announced today it is closing all of its campuses across the country in the wake of federal sanctions.
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ITT Technical Institutes operates 130 campuses in 38 states, including two campuses in San Antonio.
As for the students ITT Tech left behind, they are left with student loans and credits that most likely will not transfer. Rose outside of New Orleans and Baton Rouge. The latest data available indicated Greenfield’s enrollment was 422 students in 2014, with an in-district tuition cost of just over $18,000.
On Tuesday the company locked its doors on campuses nationwide.
The school, which has been around for 50 years, was denied permission to enroll new students who rely on federal loans and grants without government approval, which sent shares of the company plunging and immediately raised – apparently well-founded – questions about its future.
The school has been the subject of state and federal investigations focusing on its recruiting and accounting practices.
“I have students I am still in contact with now”, he said.
In this morning’s announcement, ITT criticized the federal action. “Ultimately, we made a hard choice to pursue additional oversight in order to protect you, other students, and taxpayers from potentially worse educational and financial damage in the future if ITT was allowed to continue operating without increased oversight and assurances to better serve students”.
Some students learned their school was closing when they received an email on Tuesday – so they came to ITT Tech’s campus in Greenfield, seeking answers.
Nursing students at ITT Technical Institute told newsnet5.com that the schools shutdown affects even students that have completed their coursework.
The Department of Education held webinars Wednesday for affected students. Officials say ITT Tech students can continue their education at Atlanta Tech beginning in October.
ITT has also been ordered to pay $152 million to the department within 30 days to cover student refunds and other liabilities in case the company closes.
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“First of all, cancel all payments to the school”, Healey said.
