In late last month, the Department of Education blocked ITT Tech from taking any new students who use federal financial aid.
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ITT Tech is a for-profit college. The company claimed it did not receive due process in the matter, calling the ruling “unconstitutional”.
Like many other for-profit college operators, ITT has faced numerous federal and state investigations of its recruiting and accounting practices in recent years.
The U.S. Department of Education is working with ITT Tech students that were either now enrolled or had withdrawn within the past 120 days.
The commission is also building an email distribution list to keep former ITT students updated.
Information from the Department of Education addresses how current or very recently enrolled students can apply to have their loans forgiven and their credits transferred. ITT had 40,000 students as of June 30, according to the Star.
ITT announced Tuesday that it will not offer its September quarter and has eliminated most of the jobs for 8,000 of its employees. The department cut off ITT from the federal financial aid program, automatically deeming new students unfit for federal student loans or Pell grants-which is crucial for the operation of for-profit institutions. The federal government is offering students two options to help.
A month after the US government banned ITT Technical Institute from taking any more students with federal loans, the for-profit college closed more than 130 campuses across 38 states. “What does everyone do about student loans?” In order to qualify for this form of debt relief, students who want to continue their education must start all over again.
In light of ITT Technical Institute’s nationwide closing, students could seek to cancel $500 million in federal loans.
A voice mail recording at the ITT campus at Lake Mary said the administrative offices were closed and the messages were full.
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ITT Tech said, they are giving up for a fight.
