California pulls GI Bill approval for troubled for-profit ITT Tech

Education
From Stripes.com

California pulls GI Bill approval for troubled for-profit ITT Tech

by: Alex Horton | .
Stars and Stripes | .
published: September 03, 2016

SAN ANTONIO — California revoked GI Bill approval for all 15 campuses of ITT Technical Institute on Thursday, a decision that will affect more than 1,300 California veterans and beneficiaries at the troubled for-profit school.

The California State Approving Agency for Veteran Education, which grants authority to state-based universities to enroll students in the GI Bill, said the move was to “protect the hard-earned GI Bill education benefits for California veterans,” according to a statement.

The agency’s decision to disapprove GI Bill usage at ITT was based on the company’s failure to comply with federal and state regulations, the statement said.

The accrediting agency responsible for certifying ITT has doubts the school would come under legal compliance in the future, according to its corporate filings. The U.S. Department of Education required ITT to pay more than $250 million in assurances to offset losses in federal loans if the company went under, Stars and Stripes reported last week.

The Education Department also stripped federal student aid for all new students at ITT last week. In response, the company announced on its website this week that it would not accept new students.

Read more at: http://www.stripes.com/1.426959