ITT Tech Closes Leaving Students With Few Options

Figuring Out Course Credits & Student Loans

GREENSBORO, N.C. -- Triad students ready to finish their education at ITT Technical Institute suddenly found out their school was closing and they'd lose most if not all of their credits.

That's hard news for anyone to swallow.  One moment you're weeks away from earning your diploma, the next you're out of money, time and you're back to square one.
 
The closure left over 8000 employees with no job and 40,000 students with no school to go to.  Wednesday on the Good Morning Show, debt expert Ja'Net Adams offered a few tips to help those affected.
 
Transfer credits:
 
If you were close to finishing your degree you should look into transferring your credits.  It will not be easy to do that.  Other for-profits more than likely will take your credits, but if you want to avoid for-profits after having this bad experience you should look into your local community college or go to the Education Department's College Scorecard.  Spend this entire day, week exploring your options! 
 
Closed School loan Discharge:
 
Because ITT closed students are eligible to have their loans forgiven.  If you are not able to transfer your credits this might be your best option especially if you decide to start at another school to pursue your degree.  
"This is a very sad situation and for other for-profits that are still operating they are in jeopardy as well," said Adams, who wrote the book Debt Sucks, Everyone's Guide To Winning With Money So They Can Live Their Dreams.  "If you are a student or employee in the for-profits that are left you should look at the ITT closing as a warning.  I said the same of Corinthian colleges closing months ago and here we are today," she added.
 
To explore your options for reimbursement and transferring credits, visit the government's Student Aid website, by clicking here.
 
 

Copyright 2016 WFMY


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment