Almost 8,000 employees nationwide are also without a job, as a result of the closings. The college specialized in technical education, focusing on business, computers, engineering and nursing.
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ITT Technical Institute is owned and operated by Carmel-based ITT Educational Services Inc. It includes the campus in Wichita located in the 8100 block of East 32nd Street North.
ITT Educational Services announced Tuesday it’s closing all ITT Technical Institute campuses – including its Kennesaw campus – permanently. “I king of would assume there would be more communication”, said Scott Wooten, a student in Memphis. Now students can either dismiss their loans, not pay them back and start their education all over again, or try to find a school that will accept their credits.
“I might have to wait for the spring, so basically I’ve wasted two years of my life dealing with ITT Tech”, Donayre said.
“Our immediate priority is limiting the negative impact of the closure on the almost 2,000 Tennessee students enrolled at ITT Tech”, said THEC Executive Director Mike Krause. Although the courts can’t extract money from a defunct company, the judgment offered further evidence of illegal practices that could help students get their federal – and possibly private – student loans forgiven through a provision for victims of fraud, according to Harris’ office.
“Higher education remains the clearest path to economic opportunity and security”, he said.
Healey urged ITT students to cancel payments to the company, collect ITT paperwork, and contact the state’s student loan assistance unit hotline at 1-888-830-6277.
Under the new measures, current students can continue receiving federal grants and loans.
“From the email, it looks like there closed down for good”, said former student Christopher Wood.
Federal officials are also focusing on wiping out debt for some – but not all – students.
In a letter to more than 35,000 students, the Indiana-based parent company ITT Educational Services announced that its 130 campuses nationwide won’t open for the fall term scheduled to begin September 12. That’s an estimated $500 million worth of loans, a cost that would be covered by taxpayers and $90 million in insurance that ITT previously paid the department. But an increasing array of allegations that ITT misled students about its success at placing graduates in their fields while defrauding investors – the company faces pending lawsuits from the federal Consumer Financial Protection Bureau, the Securities and Exchange Commission, and the MA attorney general – led the Education Department to restrict the company’s access to taxpayer funds.
Whitney Barkley, an attorney with the Center for Responsible Lending said, “Although ITT Tech blamed its closures on August 25 Department of Education supervisory actions, the institution was facing multiple state investigations as well as other serious signs of approaching failure”.
The Education Department said it would schedule additional sessions and will post the information on its website, and that it will record and archive the webinar.
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The school has been in operation for 50 years.
