ITT Tech shutters campuses after federal aid sanctions
ITT-TECH.EDU
A screenshot today of the ITT Tech website displayed the message “WE ARE CURRENTLY NOT ENROLLING NEW STUDENTS.”
CARMEL, Ind. » The for-profit college chain ITT Educational Services is shutting down its campuses days after the U.S. Department of Education banned it from enrolling new students who use federal financial aid.
The company, which operates vocational schools, announced “with profound regret” in a statement today that it is ending academic operations at all of its more than 130 campuses across 38 states.
The company, based in Carmel, Indiana, says its move will have an impact on hundreds of thousands of students and alumni as well as more than 8,000 employees.
ITT Educational Services says it was forced to take the action after the U.S. Department of Education issued sanctions Aug. 25, including a ban on enrolling new students who rely on federal financial aid.
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Federal aid to education should exclude aid to private, for-profit operators. Federal aid has kept these questionable operators profitable. Federal loans have also allowed legitimate colleges and universities to keep raising tuition faster than the rate of inflation. It is subsidized highway robbery.