This is true. It has been cancelled since they cannot enrolled no more new students for Sept 2016
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We are proceeding with the September quarter on our campus. We are even providing "first quarter" classes for the students who were already processed before the ED judgement came down. Just hired a new instructor this week. It is true that we are being told absolutely nothing on local campuses though.
What's the point in dragging things out?
Technically ITT-Tech has access to Title IV money for current students, but is that really going to happen?
DOE told them they will get reimbursed for Title IV money for this quarter, instead of getting it in advance -- meaning ITT-Tech can't access fed money until a ways into the fall quarter. And, meanwhile, if ITT-Tech can't come up with an additional 150 MILLION dollars by end of September, DOE will cut them off entirely. Can ITT-Tech really meet all these obligations with no money coming in up front? Let alone obligations to other businesses, like Cerebrus?
Not only is the money an issue, but the writing is on the wall that ITT-Tech will lose accreditation eventually -- ACICS, if it survives, will likely take action against ITT-Tech at December council meeting. ACICS will not likely survive very long, forcing ITT-Tech into an almost certainly futile search for new accreditation.
No accreditation, no federal dollars coming in.
Inevitable that ITT-Tech is losing federal student aid funding in near future. Their hokey notice to students didn't even meet DOE standards, its like ITT-Tech isn't even trying.
Watch for Nicole Elam to make some announcement about how their market studies indicate they can make lives better by doing (fill in the blank) instead of continuing with their historical path.
"they cannot enrolled no more new students" ? Have you been drinking maybe?
I understand they can't enroll new students. They were specifically told, however, that current students can still receive Title IV funding. While the DOE is clearly trying aggressively to shut them down, it doesn't want to appear to be putting the screws to existing students, even if the federal student loan discharge that existing students may soon receive is likely to be one of the greatest blessings of their professional lives.
So cancelling the fall term for existing students would be entirely ITT Tech's call, there's no evidence from them that they've done it, and it would create even more chaos than currently exists. So why does some random stock analyst claim this is happening?