After completing a two-year program in electrical engineering technology at the ITT Technical Institute in Chattanooga last month, Jake Oliver thought he was getting his associate’s degree on Thursday and starting a bachelor’s program at the school next week.
But Oliver and more than 35,000 other ITT students learned this week the technical school is shutting down and won’t open its campuses in Chattanooga and 130 other cities this fall.
“It’s devastating to me and I’m trying to figure out what to do next,” said Oliver, who earned his degree after serving in the U.S. Army. “The classes and instructors I had were great, but I’m worried now how valuable my degree will be considered from a school that has shut down.”
The Indiana-based parent company ITT Educational Services said it is shutting down its campuses this fall due to the decision on Aug. 25 by the U.S. Department of Education to cut off the use of federal financial aid for ITT students. The closing forced the layoff of more than 8,000 ITT instructors and other employees.
The federal agency said too many ITT students were not graduating or were unable to find jobs after students received millions of dollars in federal students loans and grants to enroll in the school’s college programs in electronics, IT, business, criminal justice and nursing.