ITT Tech Closes 137 Schools, Students Left With More Questions Than Answers

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RICHARDSON -- Students, faculty, and staff at ITT Tech campuses in Richardson woke up to terrible news Tuesday morning.

"We got an email this morning saying the doors are closed, and we no longer have a school to go to," Melissa Bosworth said.

Early Tuesday morning, ITT Tech released a statement that said it was closing all of its campuses around the country, but that it would help students get their transcripts and records.

Students said the online portals where they can gain access to these files have been down or crashing for most of Tuesday.

"At least someone could be here to help us get our transcripts and our information that we are needing to get into another program, if these programs would accept our credits," said Brandii Price.

Bosworth only had three months to go before graduation. She told NewsFix other programs have already denied students entry into their programs and have said their credits will not transfer. She said the program costs $50,000, although many people have already spent more than that amount.

Bosworth gained her financial aid through the GI Bill, but it will no longer pay for anything. It only pays for benefits for up to 36 months.

"We've already taken out student loans. If we go somewhere else, we might have to take those classes that we already have student loans out on again, and then we'll be more in debt," said Jennifer Yates.

Reports surfaced at the end of August that the institute was in financial trouble and might have to shut down.

"We were reassured here at the Richardson campus that we would not be closing down," said Yates. Because of those troubles, the institute was not allowed to enroll new students who rely on financial aid. The U.S. Department of Education said it also needed to report it was owed 40% of federal student aid it received last year.

"ITT ceased to operate because the federal government demanded a certain amount of money today. Today was the deadline. If they didn't meet their obligations today, I don't know what the federal government's next step would have been, but apparently, they felt it was necessary to shut the business down," said instructor Todd Meedel.

More than 8,000 employees were laid off because of the shutdown, with many of them also finding out via email.

"I just feel it's really hurting all of our students. We have students that were getting ready to graduate this quarter, and all of a sudden, they don't have a place to fall back to . They told us there might be something coming from the ED regarding a teach-out plan where the students currently in process would be able to finish their plans, but we haven't heard anything about that as instructors," said Meedel.