The accreditation of ITT Tech has been under scrutiny for some time now, and the situation came to a head recently when the Department of Education announced that the school would no longer be able to participate in the federal student aid program. This means that ITT Tech’s accreditation is in serious jeopardy, and the future of the school is very much up in the air.
Checkout this video:
ITT Tech’s History
ITT Tech was founded in 1946 and was originally a part of General Electric. In 1952, ITT Tech became its own entity and began to focus on electronics and technological education. In the 1970s, ITT Tech began to offer more vocational and trade-focused programs. In the 1980s, ITT Tech expanded its reach by opening campuses in many different states.
ITT Tech’s beginnings
ITT Tech’s history began in 1946 with Harold Geneen, who later became its CEO, and his purchase of a small electronics firm called International Telephone & Telegraph. The company rapidly grew under Geneen’s leadership, making a series of acquisitions in the 1960s and 1970s. In the 1980s, ITT expanded into the hotel and gaming businesses with the purchase of Sheraton and Caesars Palace.
In the early 1990s, ITT faced a series of challenges, including an investigation by the Securities and Exchange Commission (SEC) and an unsuccessful hostile takeover attempt by Hilton Hotels. In 1995, Geneen retired and was succeeded by Rand V. Araskog as chairman and CEO. Under Araskog’s leadership, ITT divested itself of its hotel and gaming businesses and focused on its core businesses: electronics, insurance, and manufacturing.
In 1997, ITT spun off its insurance business as The Hartford Financial Services Group. In 2000, it sold its electronics business to Alcatel. And in 2007, it spun off its manufacturing business as ITT Corporation.
ITT Corporation remained a holding company for several other businesses until 2011 when it announced that it would split into three companies: Xylem (water technology), SpectraSPX (fluids management), and Interconnect Solutions (connectors). All three companies began trading on the New York Stock Exchange in October 2011.
In 2016, Xylem acquired Sensus for $1.7 billion to expand its water technology business. And in 2017, Xylem acquired Pure Technologies for $640 million to expand its water infrastructure solutions business.
ITT Tech’s growth
From its humble beginnings in 1946, ITT Tech grew to become one of the largest for-profit technical colleges in the United States. With over 130 campuses nationwide, ITT Tech was a well-known and respected name in vocational education. But in 2016, everything changed.
In that year, the Accrediting Council for Independent Colleges and Schools (ACICS) stripped ITT Tech of its accreditation. This was a death blow to the school, as most federal financial aid is only available to students attending accredited institutions. Without accreditation, ITT Tech was unable to enroll new students and was forced to close all of its campuses.
So what happened? How did such a large and well-established school lose its accreditation so quickly?
The answer lies in ITT Tech’s business model. For years, the school had been accused of aggressive recruiting practices and questionable academic standards. In 2015, these allegations finally caught up with ITT Tech when the US Department of Education placed the school on probation. Then, in 2016, ACICS pulled the plug entirely.
Today, ITT Tech is no more. But its legacy continues on through the tens of thousands of students who were left stranded when the school closed its doors.
ITT Tech’s Accreditation
ITT Tech’s accreditation is in danger as of 2016. The school has been given a show-cause order from its accreditor, the Accrediting Council for Independent Colleges and Schools (ACICS). This means that the school is in danger of losing its accreditation, which could spell disaster for the school and its students.
What is accreditation?
Accreditation is a process by which colleges and universities are evaluated to ensure that they meet certain standards of quality. The standards are set by professional organizations in the field, such as the Accreditation Board for Engineering and Technology (ABET) for engineering programs.
Institutional accreditation is different from programmatic accreditation, which evaluates specific programs within a school rather than the school as a whole. For example, ABET accredits engineering programs, not engineering schools.
ITT Tech’s accreditation was through the Accrediting Council for Independent Colleges and Schools (ACICS), which is a national institutional accrediting agency recognized by the U.S. Department of Education. On September 1, 2016, ACICS lost its recognition by the Department of Education, meaning that ITT Tech’s accreditation was no longer valid.
ITT Tech’s accreditation
ITT Tech’s accreditation was revoked by the Accrediting Council for Independent Colleges and Schools (ACICS) on September 6, 2016. This decision followed an ACICS review of ITT Tech’s finances and governance, which found that the school was not in compliance with ACICS standards.
ACICS is a nationally recognized accrediting agency, and its decision to revoke ITT Tech’s accreditation means that the school is no longer eligible to receive federal funding. This includes student financial aid like grants and loans, which make up the majority of ITT Tech’s revenue.
The loss of accreditation is a deathblow to ITT Tech, which has been struggling to stay afloat in recent years. The company has been investigated by multiple state and federal agencies, and it faces lawsuits from former students who allege that they were defrauded by the school.
ITT Tech has announced that it will discontinue operations at all of its campuses following the loss of accreditation. This decision will leave approximately 35,000 students without a college education, and many of them will likely be unable to transfer their credits to another school.
ITT Tech’s Closure
In September of 2016, the U.S. Department of Education barred ITT Tech from enrolling new students who use federal financial aid. This was a crushing blow to the for-profit college, which relied heavily on those students to stay in business. The company was also placed on notice that its accreditation was in jeopardy. Just a few weeks later, ITT Tech announced that it would be closing all of its campuses for good.
The events leading up to ITT Tech’s closure
In recent years, ITT Tech had been the subject of numerous state and federal investigations. In 2014, the U.S. Department of Education began investigating ITT Tech for possible fraud after the school was caught inflating job placement rates. The federal probe intensified in 2015, when the Department of Justice launched a criminal investigation into ITT Tech.
In 2016, things came to a head when the accrediting body for ITT Tech decided to place the school on probation. This meant that ITT Tech was no longer in compliance with accreditation standards and was at risk of losing its accreditation altogether. Without accreditation, ITT Tech would not be eligible for federal financial aid funds. This would have been a deathblow for the school, as more than 90% of its students rely on federal loans to pay for their education.
Facing this dire situation, ITT Tech made the decision to close all of its campuses in September of 2016. This left thousands of students stranded, with many left to figure out how to pay back their student loans.
The aftermath of ITT Tech’s closure
In the months following ITT Tech’s closure, many of its former students were left scrambling to figure out what to do next. Some decided to transfer their credits to other schools, while others chose to pursue alternative educational options.
For those who decided to transfer their credits, the process was often complicated and time-consuming. Many students discovered that their credits would not transfer to other schools, or that they would only receive partial credit. This left many students feeling frustrated and disappointed.
Those who chose alternative educational options often had more success. Many community colleges and vocational schools offer programs that can help students gain the skills they need to enter the workforce. These programs are often shorter and less expensive than traditional four-year degree programs, which makes them a good option for students who are trying to minimize the cost of their education.
Overall, the closure of ITT Tech has been a difficult experience for its former students. However, many of them have been able to find success by pursuing alternative educational options.
What Happened to ITT Tech’s Accreditation?
ITT Tech’s accreditation was removed by the Accreditation Council for Independent Colleges and Schools (ACICS) on September 6, 2016. This means that ITT Tech is no longer an accredited institution. This can have a number of implications for students, both current and future.
The loss of accreditation
In September 2016, the Accrediting Council for Independent Colleges and Schools (ACICS) announced that it was withdrawing its accreditation of ITT Technical Institute, effective immediately. This action effectively ended ITT Tech’s operations, as the school was unable to continue operating without accreditation.
The loss of accreditation meant that ITT Tech could no longer participate in the federal student financial aid program. This made it impossible for students to use federal loans or grants to attend the school. As a result, many students were forced to withdraw from their programs and were left with significant debts.
ITT Tech’s accreditation had been in danger for some time prior to the definitive decision by ACICS. In 2014, the U.S. Department of Education placed ITT Tech on probation due to concerns about the school’s financial stability and its ability to meet educational quality standards. In 2016, ACICS put ITT Tech on notice that its accreditation was in jeopardy due to continued concerns about the school’s finances and governance.
The withdrawal of ACICS accreditation was not the only factor that led to ITT Tech’s closure. In August 2016, the U.S. Department of Education placed new restrictions on ITT Tech’s access to federal student aid money. These restrictions made it difficult for the school to continue operating and led to the layoffs of hundreds of employees.
The combination of lost accreditation and restricted access to federal funding made it impossible for ITT Tech to continue operating, and the school announced its closure in September 2016.
The impact of the loss of accreditation
As a result of the loss of accreditation, ITT Tech was forced to close all of its campuses. This had a profound impact on the students, employees, and communities where ITT Tech operated.
Many students were left without a way to complete their degrees, and employees were left without jobs. The closure of ITT Tech also had a ripple effect on the economy, as businesses that relied on the school for customers or employees were also affected.
The loss of accreditation also meant that ITT Tech’s degrees and credits would not be recognized by other schools. This made it difficult for students to transfer their credits or degrees to other institutions.
The impact of the loss of accreditation was significant, and it is still being felt by those who were affected by it.
