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What's Next for ITT Tech's Students and Their Half a Billion in Debt?

The for-profit college chain's closure threatens to throw thousands of students off track and saddle taxpayers with their debt.
Visitors found the doors to the ITT Technical Institute campus in Rancho Cordova, California, closed after ITT Educational Services announced that the school had ceased operating Tuesday.

Visitors found the doors to the ITT Technical Institute campus in Rancho Cordova, California, closed after ITT Educational Services announced that the school had ceased operating Tuesday.

Photographer: Rich Pedroncelli/AP Photo

When ITT Technical Institute shut down this week, Tim Noufer was just a quarter away from earning his bachelor's degree.

The Army veteran, now 26, had enrolled in 2012, using the GI Bill to get an associate's degree. He stuck around at the for-profit college for his bachelor's, pleased with its night schedule and online class options.