ITT Educational Services, Inc. (1994–2016) ITT Corporation (1965–1994)
Website
itt-tech.info
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]
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]
^"Management & Directors". Archived from the original on 2016-11-14. Retrieved 2017-05-23.
^"ITT Educational Services, Inc. Reports 2016 Second Quarter Results". Archived from the original on 2017-02-14. Retrieved 2017-01-15.
^ abc"Form 10-K Annual Report - For the fiscal year ended December 31, 2015". U.S. Securities and Exchange Commission. March 15, 2016.
^"FAQ [permanent dead link]." ITT Technical Institute. Retrieved on November 23, 2011. "Our principal executive offices are located at: ITT Educational Services, Inc. 13000 North Meridian Street, Carmel, Indiana 46032"
^"Breckinridge School of Nursing and Health Sciences @ ITT Technical Institute".
^Morgenson, Gretchen (October 21, 2016). "A Whistle Was Blown on ITT; 17 Years Later, It Collapsed". The New York Times. Archived from the original on April 4, 2023. Retrieved April 12, 2024.
^"ITT Educational Services, Inc., et al". Retrieved October 31, 2016.
^"ITT trustee sues Ed Department, lenders to help pay $1.5B in claims". Education Dive.
^"Extended Closed School Discharge Will Provide 115K Borrowers from ITT Technical Institute More Than $1.1B in Loan Forgiveness". www.ed.gov. US Department of Education. Retrieved 9 September 2021.
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