Thousands of teachers are out of a job and tens of thousands of students don't have a school to go after ITT Tech announced its shutting down and closing all 130 of its campuses immediately.
Most of the students got the news via email or just arrived to school to find the doors locked.
The for profit tech school had accepted federal funding. When the government started calling on those loans, and the school couldn't meet the terms, the government decided not to give them any more money.
So the school decided to shut its doors. The Department of Education says if you're a student at ITT Tech and have a student loan your loan could be forgiven. But you'd have to start your education all over again.
If you want to keep going you'd have to transfer your credits and hope the school you want to transfer your credits to will accept them.
If you've graduated but haven't gotten your signed diploma well you may be out of luck.
For information on credits, transfers, and student loans used for an ITT Tech education, the Department of Education has provided the following resource: http://blog.ed.gov/2016/09/message-secretary-education-itt-students/