ITT Tech Faces Sanctions That Could Put It Out Of Business Within Weeks

By James Briggs, IndyStar.com

The federal government has issued what analysts are calling a death sentence for ITT Technical Institute, while offering assurances that the for-profit college chain's students will be taken care of.

The Education Department on Thursday handed down a series of devastating restrictions that could put Carmel-based ITT Educational Services Inc. out of business within weeks. The government banned ITT from enrolling new students who depend on federal aid, the source of most of the company's revenue, and required it to warn current students that its accreditation is in jeopardy.