The Veterans Affairs Department is warning thousands of U.S. military veterans enrolled at ITT Tech to brace for the possibility the for-profit college franchise "goes out of business," according to a recent notice.
The parent company, ITT Educational Services Inc., based in Carmel, Indiana, on Monday suspended all new enrollments after the U.S. Education Department barred the college, which has about 130 campuses in 38 states, from accepting students who use federal financial aid. States such as California and Washington have followed suit.
While the moves don't affect veterans' GI Bill benefits, "these actions do raise significant concerns about the financial viability of ITT," the VA wrote in a recent message on its Facebook page. "It's important that you understand that if ITT goes out of business before you complete your education, you will not be able to use your GI Bill benefits to keep attending that school and under this scenario, you would no longer be able to pursue your education at that school."