An estimated 7000 vets (and dependents) who have been attending ITT Tech colleges are facing a serious dilemma as the school has closed all of its 130 locations nationwide. The college had been operating in 38 states. The closures are not a surprise to many, but did come as a shock to thousands of veterans (and their dependents) who had been hoping for a last minute reprieve.
ITT Technical Institute is a for-profit school, and it was sanctioned under the GI Bill. Many of those who were attending classes were doing so under the GI Bill and getting not only tuition assistance but also housing allowances.
A few weeks ago, the Department of Education banned ITT from taking on new students who were using federal financial aid (Pell Grants, for instance) or depending on federal student loans. The ban was the result of multiple investigations involving the school’s lending policies and practices. In addition to the federal probe, the state of California also set into place a state-wide ban which included virtually anyone who wished to attend the school, regardless of how the student would pay. As of 2015, more than 65 percent of ITT students used some form of federal aid to attend classes.
The ITT brand has been in business for around 50 years, and at one time was considered one of the top schools to attend for those looking for tech-related education in fields such as electronics, nursing, information technology, and criminal justice to name a few. But of late the school has been under intense scrutiny for some bad behavior. It was also facing loss of accreditation. ITT is based in Carmel, Indiana.
The Department of Education has announced that those students who were recently enrolled with ITT may have their federal student loans (only for ITT classes) forgiven. The debt will be cleared and the student may enroll somewhere else. Those who were close to graduating may be able to transfer their ITT credits to a new school. If credits are successfully transferred, debt forgiveness may not apply. Visit the Department of Education website for more information on this issue.
For those who were attending under the GI Bill, the rules are different. Under current law, there are no remedies or exceptions for returning GI Bill benefits to those who enrolled in a school that closed down. The best option for these students is to see if they can transfer their credits to another school.
Disclaimer: The content in this article is the opinion of the writer and does not necessarily reflect the policies or opinions of US Patriot Tactical.
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