title:  Elizabeth Warren Announces That A Major For Profit School Is Banned From Accepting Students
text: If there s one thing Elizabeth Warren hates, it s when ordinary citizens get the wool pulled over their eyes and are taken advantage of by greedy corporations.In an effort to make at least one company no longer have the ability to cheat students out of a proper education and tens of thousands of dollars, ITT Tech will no longer be allowed to accept students.Warren took to Facebook to make the announcement: ITT Tech   a massive, for-profit college   is currently under investigation by 20 state and federal agencies for cheating students. The SEC, the Consumer Financial Protection Bureau, and Massachusetts Attorney General Maura Healey are all suing them for fraud. ITT Tech failed, again, to meet the scandalously low standards of its accrediting agency, but still sucked down a whopping $600 million in taxpayer dollars last year.Today, the Department of Education has finally declared that enough is enough, banning ITT Tech from enrolling any new students with federal student loan and grant dollars this fall. ITT s free ride is finally over, and the message couldn t be clearer: We will no longer stand by and allow these shady institutions to bilk taxpayers and cheat students. https://www.facebook.com/senatorelizabethwarren/posts/636549976507499Warren also posts a link that explains what is happening and what current students can do or expect. Part of the article explains:As a current ITT student with federal loans, you have some options:You can continue your courses at ITT with your federal student aid. There s no immediate change to your program.You can transfer your credits to a new school (if that school accepts them) and complete your education.You can pause your education and wait to see how this matter resolves itself in the coming months. If ITT closes before you finish your program and you don t transfer your credits, you will likely be eligible to discharge your federal loans.This is huge news, and long overdue. All too often these for-profit schools continue to take money while providing subpar education, often not properly accredited. These schools spend more on advertising than education and take advantage of people who may not necessarily realize they are being robbed.It is wonderful to finally see some justice be made and watch at least another one of these scam schools be given what is long overdue.Featured Photo by Alex Wong/Getty Images