ITT
Tech is the
latest casualty of the
federal for-profit college *****down
ITT Technical Institute, the
for-profit college best k**wn by some for its '90s commercials, is officially shutting its doors.*
The school fell victim to a
federal *****down on
for-profit colleges. Last week, the U.S. Department of Education
banned ITT Tech from enrolling new students using
federal financial aid funds. The school was first placed under heightened
federal oversight in 2014.*
As part of
federal sanctions against it, ITT
Tech had to increase its surety funds, held by the Department of Education for liabilities related to its investigations into the school, to 40 percent of all Title IV aid the school received in 2015, or $2.4 million. *
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