“Thanks, Obama!” Notorious For-Profit College Shutters, Blames Admin.
Private college giant ITT Tech announced it was closing down on Tuesday, becoming the latest higher education profiteer to buckle under federal investigations into alleged wrongdoing. The shut down is the culmination of the company’s death spiral, which began last month when the Department of Education formally sanctioned it by preventing taxpayer dollars from funding future enrollees. For-profit colleges overwhelmingly depend on taxpayer-funded student loans to enroll new students. ITT Tech received nearly $600 million in federal money in 2015 alone. “The actions of and…