ITT Educational Services, Inc. announced Tuesday it will shut down all of its ITT Technical Institutes. The company has eliminated over 8,000 employees.
— CNN (@CNN) September 6, 2016
The company said it a statement, “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.”
Recently, the U.S. Department of Edudcation banned ITT Tech can no longer accept new students who use financial aid, and was ordered to pay $152 million to the department.
ITT Tech had operated for over 50 years. It had more than 40,000 students enrolled in over 130 communities, including seven schools in Pennsylvania.