ITT Technical Institute closing all campuses

The statement put the blame for the abrupt closures on a “a complete disregard for due process by the U.S. Department of Education”.

The announcement comes days after the U.S. Department of Education banned it from enrolling new students who use federal financial aid.

Most for-profit colleges rely on federal student loans, funded by taxpayers, to enroll new students; the value of loans now taken out by ITT Tech students is as high at $500 million, according to the Department of Education.

An ITT Technical Institute for-profit college location in Chantilly, Virginia in 2014.

One student stopped by the Murray campus looking for answers, only to find the doors were locked.

In light of ITT Technical Institute’s nationwide closing, students could seek to cancel $500 million in federal loans. We communicated with all students this morning informing them of key information including how to receive grades and transcripts, articulation agreements, what other schools are near them that may offer similar programs of study.

“I don’t want to start over with a new loan, I already got $23,000 on me”, ITT student Maria Arcuaga said. WATCH: Jasmine Nunez, a Durham student at ITT Tech, reacts to the news that the campuses is closedShonte Wooten was a student at the Durham ITT.

The company was the subject of state and federal investigations focusing on its recruiting and accounting practices.

“For more than half a century, ITT Tech has helped hundreds of thousands of non-traditional and underserved students improve their lives through career-focused technical education”.

As of Tuesday, a notice on the company’s webpage said: “We are now not enrolling new students”. I call on the Department of Education to swiftly make these students aware of their eligibility for closed school discharges of their student loan debts and other options. The law affects employers with more than 100 employees and business sites with more than 50 workers. In 2015, more than 70 percent of ITT’s $850 million in revenue was provided by federal aid.