JACKSON, Miss.- The for-profit education ITT Technical Institute is set to close their doors after a decision made on Tuesday.
The Department of Education said they’ve been looking into ITT Educational Services on a state and federal level because there were concerns that the school has not met accreditation standards.
“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,” the company said in a statement. “We reached this decision only after having exhausted the exploration of alternatives including transfer of the schools to a non-profit or public institution.”
The Department of Education also banned students from using financial aid in order to enroll.
“Over time, ITT’s decisions have put its students and millions of dollars in taxpayer funded federal student aid at risk. In response, over the last couple of years, we at the Department of Education have increased our financial oversight over ITT and required the school to boost its cash reserves to cover potential damages to taxpayers and students,” the Department of Education’s blog post stated.
ITT will not be accepting students for the September quarter. The school served over 40,000 students across 39 states and online.