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ITT Technical Institute (often shortened to ITT Tech) was a for-profit technical institute. Founded in 1969 and with approximately 130 campuses in 38 states of the United States, ITT Tech was one of the largest for-profit educators in the U.S. before it closed in 2016. While some students have received debt relief through U.S. government action, many more continue to struggle with debt that they accrued as students of the school. A student debt group, the ITT Warriors along with an attorney for the students working at the Project on Predatory Student Lending at Harvard Law School, have assisted student debtors seeking to have their debt forgiven.
ITT Educational Services, Inc. (OTC Pink No Information: ESINQ), a publicly-traded company headquartered in Carmel, Indiana, owned and operated ITT Tech. The company also owned and operated the Breckinridge School of Nursing and Health Sciences schools. order certificate
ITT Technical Institute charged among the highest tuition fees in the industry. It also had the industry’s highest rate of loans that go into default within two years of attendance. In 2014, the annual tuition for attending an ITT Tech campus ranged from $45,000 to $85,000. Starting in about 2004, ITT Tech came under fire for questionable practices. The allegations included high-pressure recruiting tactics, falsified paperwork, high default rates on ITT Tech student loans, and inadequate educational standards.
Following state and federal investigations, the United States Department of Education prevented students from using federally guaranteed student loans at ITT Tech locations effective August 2016. All ITT Tech campuses were closed by September 6, 2016. On September 16, 2016, ITT Tech filed for bankruptcy. In 2018, ITT Tech’s court-appointed bankruptcy trustee sued the United States Department of Education and lenders to repay $1.5 billion in claims against ITT. They alleged that regulators took advantage of low-income students and neglected their oversight duties.A group of more than 3500 students and former students called the ITT Tech Warriors have protested that they received a subprime education and called for debt forgiveness.