On Wednesday, the U.S. Department of Education held a series of webinars to inform students about their options moving forward.
Advertisement
Students are now faced with two options: 1) trying to keep the course credits already earned by transferring to another school, or 2) losing their credits, becoming eligible for a federal loan discharge, federal officials assured.
The college, which operates ITT Technical Institutes around the country, also said Tuesday it would cut the jobs of about 8,000 employees due to the closure. But it’s important to know that transferring credits can impact their eligibility for potential student loan relief. The college plans to accept applications from former ITT Tech students for Delgado Second Start classes beginning October 5 at multiple Delgado locations and online.
ITT Educational Services CEO Kevin Modany told reporters Tuesday, “For what appears to be political reasons, there seemed to be an outcome in mind that was going to be forced here”.
ITT Technical Institute is closing all of its 130 campuses nationwide, after the Feds gave the for-profit vocational school a flunking grade.
ITT’s closure followed the U.S. Department of Education’s decision to suspend federal aid to new students enrolling since ITT failed to meet its accreditor’s standards. Now he’s left scrambling to find a school that will accept a good portion of his credits. The state is also providing a list of other schools with comparable programs.
ITT reported $850 million in total revenue previous year, and about $580 million of that came from federal aid, showing just how dependent the company was on federal money.
For instructions on how to apply for a Closed School Discharge, students may visit here. Andreotti-Briggs graduated from ITT Tech several years ago.
Advertisement
Last week, Washington cut off access to federal financial aid for new students, saying the school was not in compliance with accreditation and asked for more than $150 million in sanctions to assure it was financially viable. ITT had 40,000 students as of June 30, according to the Star.
