ED has provided information regarding the choices ITT students currently have available to them. Those options include closed school loan discharges and credit transfers to other institutions.
ITT officials and therefore the postsecondary education oversight bodies within the 38 impacted states are within the process of working with institutions within the area of the closed schools to spot schools with similar programs which will accept students. For information on the way to access and acquire your student records and transcripts and to seek out out more about licensed institutions with similar programs in your area, contact your state postsecondary education agency.
You may also want to use ED’s College Scorecard to explore your transfer options and find the program that’s right for you.
If you’re curious about transferring your credits to a different institution, you ought to contact that institution to verify that they’re going to accept the credits you earned at ITT. The institution can also tell you what additional steps you would like to require to enroll at their institution (for example, update the Free Application for Federal Student Aid form with the new institution’s information).
ED hosted 18 webinars throughout September 2016 and continues to figure with state postsecondary education officials on transfer fairs and student meetings within the vicinity of the closed campuses to share information and address students’ questions and concerns. you’ll find the locations, times, and other information about state- and partner-sponsored transfer fairs and student meetings in columns L through O of this spreadsheet.
On September 6, 2016, ITT Educational Services declared that all of its ITT Technical Institutes were going to close. The closure of these institutions left 35,000 students without an educational path forward. Thousands of others across the country were impacted. Majority of the former students are worried mainly about one issue. Will the Student Loan Forgiveness programs cover their loan debts? To find more about available student loan forgiveness programs you just need to scroll down this article.
The closure of ITT institutions is the result of increased regulation and sanctions from the U.S. Department of Education. ITT Tech has decided to terminate its operation. It was after the decision from the Department of Education to ban the for-profit vocational college from enlisting new students who relied on federal aid to pay for their education with them.
The news was a shock as the company had been in operation for more than 50 years since 1969 and before ITT Tech was permanently shut down. Until today, ITT Tech operated on over 130 campuses in 38 states. As a result, all ITT Technical Institutes lost their qualification to receive federal student aid funds from the Education Department.
However, questions continued to arise about the institution’s enrolling and accounting practices as well as its financial viability.
ITT Educational Services, Inc. published a press release on their website that blamed the government for the closure and the impact on students.
ITT Tech offered students an option to the traditional college course. As a for-profit organization, the school provided specialized training in targeted fields of study. In 2015 alone, it had over 45,000 students and $850 million in revenue.
The closure of ITT leaves many students and graduates paying student loans from a now non-existent school. Many are concerned about how they will manage their student loans.
Fortunately, former students and recent graduates of ITT institutions may be eligible to have their federal, not private, student loans discharged as a result of the closure. All federal debt will be forgiven according to student loans forgiveness programs rules. Thus, students have the opportunity to continue their education or pursue their career goals elsewhere.
In 2019, if you attended ITT Tech between 2006 and 2016, you may qualify for ITT Tech student loan forgiveness benefits via either the Closed School Loan Discharge program or The Borrowers Defense To Repayment program.