ITT shuts down: Tens of Thousands of Students Stuck in Limbo

ITT shuts down: Tens of Thousands of Students Stuck in Limbo

Sep, 6th 2016

ITT Educational Services announced on Tuesday that it is shutting down its more than 100 ITT Technical Institute campuses immediately, accusing the federal government of unfairly stripping it of eligibility for student aid. It's an abrupt move that will impact 35,000 students who are currently taking classes on campuses and online throughout the United States. Many of them are now left without a degree and saddled with student debt.

ITT said it also eliminated the jobs of the "overwhelming majority" of more than 8,000 employees on Tuesday. Last week, the Department of Education barred the school from allowing any new students to use federal loans to pay for ITT -- and...

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