ITT Technical Institute
Former for-profit technical institute / From Wikipedia, the free encyclopedia
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ITT Technical Institute (ITT Tech) was a private for-profit technical institute with its headquarters in Carmel, Indiana and many campuses throughout the United States. Founded in 1969 and growing to 130 campuses in 38 states of the United States, ITT Tech was one of the largest for-profit educators in the US before it closed in 2016.[3]
Motto | Education for the Future |
---|---|
Type | Private for-profit technical institute |
Active | 1969 (1969)–2016 (2016) |
Chairman | Darvey W. Hayes |
President | Eugene W. Feichtner[1] |
Students | 40,015[2] |
Location | , , |
Campus locations | Approximately 130 campuses |
Affiliations | ITT Educational Services, Inc. (1994–2016) ITT Corporation (1965–1994) |
Website | itt-tech |
The institute was owned and operated by ITT Educational Services, Inc. (Expert Market: ESINQ), a publicly traded company headquartered in Carmel.[3][4] The company also owned and operated the Breckinridge School of Nursing and Health Sciences schools.[3][5]
In 1999, two former ITT employees brought forth a law suit alleging the school used illegal recruitment practices, saying the school was "abusing that system for years and ripping off the government for billions of dollars." In 2004, the Justice Department initiated a criminal investigation into ITT colleges in eight states.[6]
Following state and federal investigations, the United States Department of Education prevented students from using federally guaranteed student loans at ITT Tech locations in August 2016. All ITT Tech campuses were closed the following month and ITT Tech filed for bankruptcy.[7]
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 alleging that regulators took advantage of low-income students and neglected their oversight duties.[8] Three years later, the US Department of Education allocated $1.1 billion in relief to an additional 115,000 former ITT Tech students.[9]