Major For-Profit College Shuts Its Doors
The announcement came less than two weeks after the U.S. Department of Education imposed restrictions on the school.By Lauren Stephenson | September 6, 2016
Tens of thousands of students are without a school after the company that operates ITT Technical Institute shuttered all of its locations.
ITT Educational Services made the announcement Tuesday, less than two weeks after the U.S. Department of Education banned it from enrolling new students who use federal financial aid. The feds also required the Indiana-based company to increase its surety funds by 40 percent within 30 days.
Those restrictions came after the for-profit school's accreditor said the school wasn't in compliance with its criteria and "is unlikely to become in compliance."