Thousands lose jobs, credits as ITT Tech shutters its doors

One of America’s largest for-profit college chains was forced to shut down this week, terminating employees en masse and leaving students with limited options.

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More than 40,000 students and 8,000 employees were dealt a massive blow when ITT Technical Institute recently—and abruptly—shut its doors.

On Tuesday, ITT Educational Services released a statement, which read, in part:

It is with profound regret that we must report that ITT Educational Services, Inc. will discontinue academic operations at all of its ITT Technical Institutes permanently after approximately 50 years of continuous service. With what we believe is a complete disregard by the U.S. Department of Education for due process to the company, hundreds of thousands of current students and alumni and more than 8,000 employees will be negatively affected.

The actions of and sanctions from the U.S. Department of Education have forced us to cease operations of the ITT Technical Institutes, and we will not be offering our September quarter. We reached this decision only after having exhausted the exploration of alternatives, including transfer of the schools to a non-profit or public institution.

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