The company behind ITT Technical Institute, the chain of for-profit schools in the United States, will shut down all of its campuses following financial sanctions from the U.S. Department of Education.
ITT Educational Services said in a statement Tuesday it would shutter more than 130 locations in 39 states. The move affects hundreds of thousands of current students and more than 8,000 employees of the ITT Technical Institute, known colloquially as ITT Tech, the company said.
Right now, it is still difficult for many hard-working people to meet their living expenses and stay current on paying off their student loan debt. Quite a few who have graduated over the last five to ten years are struggling just as much as when they graduated from college.
Two days before the presidential inauguration, the Consumer Financial Protection Bureau announced it had filed a lawsuit against student loan servicing giant Navient. The announcement made headlines and caused a lot of concern among student loan borrowers, especially those with loans that Navient services.