Action 9: Displaced ITT tech students struggle to rebound

Displaced students are still struggling to pick up the pieces after the major for-profit college ITT Tech suddenly closed a month ago.  Many of the roughly 35,000 students who attended the school's 130 campuses are scrambling to figure out what's next for them.

York resident Chase Campbell was studying network security and was more than halfway done. Then the school closed, just days before fall classes were set to begin. It was too late to start school somewhere else.

"I just felt hopeless," he said.

Federal investigators had their eyes on ITT Tech the last few years, worried about the school's programs and finances.  When the government required the school carry a larger bond, ITT folded and filed bankruptcy.

Former employees sued, saying they weren't given enough warning, based on the law. And students were left with hard decisions.

"It's really frustrating. You know? If it had been my first or second quarter, it might not be a big deal. But, when you waste a year of your life, and you're thinking you're about to be into your career this spring, it's just terrible," Campbell said.

The U.S. Department of Education said it's had 22,000 conversations with those students. It has a new online resource dedicated to college closures. Nextstepsedu.org has hosted 18 webinars so far (register at studentaid.Ed.Gov), and is asking community colleges to be flexible when considering whether to accept transfer credits. It's also offering to cancel and even refund loans for students who qualify.

That probably won't help Campbell though because he mainly used his own money -- $15,000 -- and didn't borrow much.

"The money's just kind of gone," he said.

He still wants that network security degree and found another school offering it, one that will honor his credits. But it's another for-profit school, which makes him nervous.

Action 9 said try not to pay companies for help consolidating your student loans. The government does that for free. And, remember, in North Carolina, it is illegal for anyone to charge you an upfront fee for help with debt relief.

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