ITT Technical Institute is shutting down nationwide, effective Tuesday, after the Department of Education ruled its students could not receive federal aid.
The DOE's move was part of a crackdown on for-profit colleges. And federal aid was a huge part of ITT Tech's budget. It received $580 million in taxpayer dollars in 2015 alone, Gizmodo reports.
ITT Tech and other for-profit schools were accused of not providing adequate training.
ITT Educational Services, Inc. will discontinue academic operations at all of its ITT Technical Institutes permanently...
The school called the move "a complete disregard...for due process to the company" and said "hundreds of thousands of students" would be negatively affected. But according to The Atlantic, students at for-profit schools often end up worse off than before because they don't finish their degrees and get crushed by student debt.
Ya MCM just spent 400 dollars on books last week only to find out ITT tech is shutting down today....he not getting his money back.— Slim Chase Reap(BBB) (@FlyoutChase) September 6, 2016
The school's fall semester was set to start on Labor Day. All classes have been canceled.
ITT Tech is closing its doors? I feel a great disturbance in the force- hundreds of local TV stations crying out all at once for ad revenue!— C. Robert Cargill (@Massawyrm) September 6, 2016
Some Twitter users recalled the company's nearly omnipresent ads.
Speaking of those ads...
This is the saddest thing to happen to ITT Tech students since realizing they go to ITT Tech.— Jess Dweck (@TheDweck) September 6, 2016
Other users didn't have a lot of sympathy for students.
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