The shutdown of ITT Technical Institutes will affect thousands of students. The for-profit college is accusing the federal government of unfairly stripping it of eligibility for student aid.
ITT Educational Services, which was established nearly 50 years ago, operates ITT Technical Institutes. It has around 40,000 students taking classes on campuses and online throughout the United States.
The school said it will now focus on helping students get their class records and figure out their next steps.
ITT said it eliminated the jobs of the “overwhelming majority” of more than 8,000 employees on Tuesday.
ITT Tech stopped enrolling new students on August 29, just a few days after it was cut off from a significant amount of federal funding by the government.
CNN contributed to this report