Citing ‘challenging regulatory environment,’ ITT Tech folds

The embattled technical college ITT Tech abruptly shut down more than 130 campuses in 38 states this week, asserting that it was unable to overcome sanctions recently issued by the Department of Education. ITT Tech claims the department denied its right to due process, but regulators assert that the 47-year-old for-profit school posed too great a risk to its students and American taxpayers to be allowed to continue operations. Here’s what happened and what’s in store for 35,000 students suddenly left without a path to a degree and hundreds of millions of dollars in federal student loans.