When ITT Technical Institute ceased operations of all of its campuses, it left hundreds of local students wondering what to do next to complete a degree program. In addition, many students are left with huge loans to repay and the possibility of accumulating more debt if they enroll in a new school.

On HearSay with Cathy Lewis, guest host Kerri Furey recently explored the impacts that ITT Tech’s closure is having on students in Hampton Roads and how local community colleges are seeking to help them. As part of the conversation, Furey spoke with Ann Larson, co-director of The Debt Collective, a grassroots organization that organizes students to fight for loan relief. The organization is helping organize an ITT Tech debt strike against the for-profit school in the wake of its abrupt closure on the grounds that the school used predatory practices to enroll students.

As local students weigh their options, Larson said, it is important that they realize they may qualify for debt discharge, but they must act before they transfer to a new institution.

“There is an option for debt relief called the closed school discharge. If your school closes while you are enrolled or shortly after you leave, you are eligible to get your debt wiped away,” Larson explained. “If you transfer your credits to another school and get your degree there, you cannot get your debt relieved as part of a closed school discharge. Everybody who is considering transferring their credits should really think very hard about whether they want to repay their debt.”

For many ITT Tech students, resolving their current debt is the best next step before they decide how to proceed with their education at another institution.

“They are better off starting fresh, getting the debt relieved, getting a closed school discharge and starting over,” Larson said.

Listen to the HearSay segment with Ann Larson.

 

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Large, For-Profit ITT Tech Is Shutting Down All Of Its Campuses

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