The Obama administration’s regulatory crackdown on for-profit colleges has put another school out of business — setting a new bar for what enforcement could look like under a possible Clinton Education Department.
The collapse Tuesday of ITT Tech, a massive, publicly-traded for-profit education company with 130 campuses across the country, comes just 12 days after Obama’s Education Department imposed stringent new regulatory restrictions on the college chain. Taxpayers are now on the hook for nearly $500 million in federal loans that ITT students are eligible to have forgiven.
Read more at Politico: http://www.politico.com/story/2016/09/itt-tech-closes-its-doors-227765