ITT Technical Institute has closed its doors for good following decades of turmoil and a failure to properly educate students.
The academic institution made an abrupt decision to stop enrolling students as a result of the U.S. Department of Education cracking down on for-profit universities such as ITT Tech.
The institution received a number of sanctions from the government, including one that prevents it from admitting students who are only able to attend if they receive federal aid, which makes up a large part of its student body.
For-profit schools accept billions of dollars from the government to offer grants and loans to students, but institutions such as ITT Tech have proved to be incapable of adequately preparing students for the technical skills that they offer.
Many students don’t finish their education and end up being burdened with debt without having the skills that they went to school for. As a result, they end up in a more difficult position than the one they started with.
A report from The Atlantic showed that “students pursuing bachelor’s and associate’s degrees at for-profit colleges saw their earnings drop, compared to before they started the program.
Another of the Department of Education’s sanctions requires ITT Tech to increase its reserves from $94.4 million to $247.3 million.
Other non-profit universities with a similar academic curriculum as this institute are Devry, University of Phoenix and dozens of others.
