Itt tech loan discharge

The closure of ITT institutions is the result of increased regulation and sanctions from the U.S. Department of Education. ITT Tech (Itt tech loan discharge) has decided to terminate its operation. It was after the decision from the Department of Education to ban the for-profit vocational college from enlisting new students who relied on federal aid to pay for their education with them.The news was a shock as the company had been in operation for more than 50 years since 1969 and before ITT Tech was permanently shut down. Until today, ITT Tech operated on over 130 campuses in 38 states. As a result, all ITT Technical Institutes lost their qualification to receive federal student aid funds from the Education Department (Borrower defense to repayment itt tech). However, questions continued to arise about the institution’s enrolling and accounting practices as well as its financial viability. ITT Educational Services, Inc. published a press release on their website that blamed the government for the closure and the impact on students. ITT Tech offered students an option to the traditional college course. As a for-profit organization, the school provided specialized training in targeted fields of study. In 2015 alone, it had over 45,000 students and $850 million in revenue.