Who is itt tech accredited by

The short-term cash ITT is hoping to generate will help the company meet the regulatory obligations imposed on it by the U. Department of Education, Urdan said. A letter of credit is collateral the government asks colleges to set aside when officials have concerns that an institution may be unable or unwilling to pay back money it owes the government.

ACICS, in turn, cited the department's decision to place ITT on heightened cash monitoring and multiple federal lawsuits as reasons why it could lose accreditation or face sanctions.

It looks like this, and on a near-term basis they have to generate cash," he said. If it happens now or in a few week or months, the net result will be the same and it'll be hard for them to find someone willing to take them in. ACICS is facing its own set of problems. Meanwhile, the SEC sued ITT last year, charging two of its top executives with fraud for allegedly concealing massive losses in two company-backed student loan programs. The CFPB suit is related to alleged predatory lending.

I'm glad the department and the government, both at state and federal level, are being diligent in following the processes to make sure schools are following the rules. For-profit schools most commonly hold national accreditation, although some faith-based schools do as well.

Some employers also can be biased against nationally accredited schools, so students should consider their future career and academic plans. Business Administration. The U. Students at unaccredited colleges generally cannot get federal or state financial aid. They may also not be able to use scholarships or tuition help from employers, community organizations, etc.

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