ITT Technical Institute Shuts Down All Schools Across Nation After Federal Actions
By WFTV // September 6, 2016
40,000 students displaced
(WFTV) – ITT Technical Institute is closing all campuses nationwide, effective immediately, after an Aug. 25 order from the U.S. Department of Education barred the school from enrolling students receiving federal financial aid.
The move came after the DOE required ITT Tech to post a letter of credit, or make a cash deposit, in the amount of $250 million, the company announced in its letter to students.
“Why weren’t we told? I feel like I was misled. I feel defrauded. I feel betrayed. You know, I had all of my hopes into the school. I depended on them to get me through this program,” said nursing student Antoinette Pierce said.
The DOE also put a freeze on the receipt of all Pell Grants and student loans.
“(The requirements) we believe are unprecedented in the history of the Department of Education,” the letter said.