ITT Technical Institute says it is closing

ITT Technical Institute says it is closing
Posted at 8:34 AM, Sep 06, 2016
and last updated 2016-09-06 20:28:48-04

ITT Technical Instiute says they're laying off most of their 8,000 employees across the country and they will not be "offering their September quarter" according to a press release published on their website, here.

The school cites a recent Wall Street Journal article which says the Obama administration's regulatory actions are essentially a "lawless execution" of the school.

The US Government's restrictions include forcing the school to maintain nearly a quarter-billion dollars in cash reserves according to some reports.