More Trouble For ITT Education Services: Agency Restricts For-Profit’s Use Of Federal Student Aid

More Trouble For ITT Education Services: Agency Restricts For Profit’s Use Of Federal Student AidJust a month after for-profit college operator ITT Education Services announced it had become the focus of a federal fraud investigation, the Department of Education revealed it had placed restrictions on ITT Technical Institute’s use of federal grants and loans. 

The Dept. of Education announced the limitations in a letter [PDF] to the for-profit education chain on Monday, noting that the action was a result of the company’s failure to account for millions of dollars in aid that was distributed to students in the last five years.

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