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Most of the people who watch television in the United States have experienced about an advertisement for ITT Technical Institute. The Indiana based for-profit college and after 50 years it will close all of its 130 campuses due to the actions by the U.S Education Department. The ITT has announced in a statement on 6^th September 2016 that all campuses of ITT will not be opened for the upcoming fall quarter. The U.S Education Department also issued a statement in its blog and informed ITT students that their institute has come under heightened inspection due to it was found that it was out of agreement with its guarantors. Students can transfer their credits to continue their study in other institutions. The U.S Department of Education announced in the month of August 2016 that ITT has failed to fulfill with authorization standards, so it would not be allowed to this educational institute to accept students having federal student loans.

The U.S Education Department had warned that they require from ITT to increase their cash reserves otherwise their institute will be closed. Point to be noted that educational problems have been increased during the past couple of years. The Consumer Financial Protection Bureau also sued ITT in 2014 with allegation that this institute is pushing students to get private loans for financial expenses to continue their education. The Securities & Exchange Commission charged for fraud to the ITT Educational Services Inc., in 2015 to the CEO of ITT Kevin Modany and Chief Financial Officer Daniel Fitzpatrick. It is important that ITT had at least 40 thousand students and 8 thousand employees.