School's Out

ITT Technical Institutes is shutting down all of its campuses, the for-profit college announced on Tuesday, leaving its 40,000 students out of school.

The announcement follows ITT's decision last week to stop enrolling all new students after the Department of Education banned the school from enrolling new students who receive federal financial aid. The school, which has been operating for nearly 50 years, faulted the department for the sudden closure.