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ITT Tech no longer enrolling New Students

ITT Tech

Following the U.S. Department of Education’s decision on August 25, 2016, to prohibit ITT Education Services, Inc. (ITT) from enrolling new students who rely on federal financial aid funds, ITT announced it is ceasing ALL student enrollment.

The Department of Education’s move last week followed determinations made by the school’s accreditor, the Accrediting Council for Independent Colleges and Schools (ACICS) that ITT “is not in compliance, and is unlikely to become in compliance with [ACICS] Accreditation Criteria.”

ITT has also been prohibited from paying any bonuses, severances or raise to their management or directors with the government’s approval.

The subject of investigations by the Consumer Financial Protection Bureau, the SEC and over a dozen states for its marketing, recruiting and job placement numbers the future of ITT is in question.

California and Wisconsin have both blocked new enrollment at ITT campuses.  According to the last quarterly earning filing in June, ITT had 137 campuses spread across 39 states.

If ITT should close, current and former ITT students who have graduated or dropped out may be able to get their federal loans forgiven.

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Posted August 30, 2016/Updated September 3, 2016