The Department of Education and 19 state attorneys general are investigating ITT over its marketing and job placement claims, along with the Securities and Exchange Commission, the Chicago Tribune reported.
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Paredes said the board reached out to ITT to get information about refunds or transfer assistance for students and to find out what will happen to the transcripts and other records of students who already graduated from the 50-year-old college.
The company has been under investigation by government authorities for allegations of fraud and deceptive marketing tactics.
Certain ITT students are eligible for a full discharge (erasure) of their federal student loans due to ITT’s closure.
The company that operates ITT Technical Institute, which has a school in St. SMC is holding an open house next Wednesday between 5 and 7 p.m.at its Niles campus ITT Tech students to discuss their options.
“I’m sure that there are lots of students who have no idea what they’re supposed to do at this point”, he said.
ITT Educational services says it’ll close more than 100 of its ITT Technical Institute campuses immediately. Her student loans top $12,000. The closure is among the largest in history and it will affect around 40,000 students.
The company’s national website says it is no longer enrolling students.
ITT Educational Services issued a statement Tuesday officially confirming the dissolution of its ITT Tech Institutes and denouncing the Department of Education’s decision to revoke its access to federal funding.
“The closure of ITT Tech means the almost 7,000 student veterans using their Post-9/11 GI Bill benefits to finance their education can not complete their degree, even if they’re just a few credits short”.
Now they’re scrambling to transfer credits and continue their education. Students said when they got there the administration office for ITT was closed.
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Last month, the Department of Education stopped the school from allowing new students to use federal loans to pay for the college, which the company believes lead to their downfall.
