ROBINSON TOWNSHIP (KDKA) — The notice on their website was clear: ITT Technical Institute is no longer accepting new students.
The for-profit technical training school has more than 130 campuses in 39 states, including one in Robinson just off Parkway West.READ MORE: Pittsburgh Weather: Cold Tuesday Temperatures
KDKA money editor Jon Delano went there on Tuesday to try to get some answers about what is going on, but no one would talk.
The decision to stop enrolling new students comes about a week after the federal Department of Education said that ITT could no longer accept students on federal financial aid.
That comes about a month after ITT announced that it had lost enrollment by about 22 percent.
So the big question is — what happens next for students there?
Sources say classes for current students went on as normal this day, but Wall Street analysts speculate that ITT may have a hard time recovering.
Stock prices have dropped from $4 a share last year to just 36-cents today.READ MORE: Medical Experts Continuing To Learn More About Omicron Variant Of COVID-19
Former superintendent and Allegheny Intermediate Unit executive director Dr. Linda Hippert says technical schools are very important for this region.
“Over 50 percent of the jobs available now and in the foreseeable future really only require a two-year post-secondary education, so I think it is very important for our region,” says Hippert.
Hippert says this region has lots of technical school and community college choices.
“They’re not all the same, so it’s so important that parents do their homework,” she said.
As for ITT, the feds want the for-profit school to increase its cash reserves and submit a letter of credit showing financial resources.MORE NEWS: Churchill Borough Council Sets Date To Vote On Proposed Amazon Development Project
But ceasing new enrollment, say analysts, will make that difficult.