ITT Technical Institute to stop enrolling students who use federal aid

CLOVIS, Calif. (KFSN) -- ITT Technical Institute has stopped enrolling new students who use federal financial aid. The company operates more than 130 campuses across the country including a school in Clovis.

On Thursday, the department of education barred ITT Educational Services from enrolling students who use federal financial aid. That means students who are enrolled at ITT, but haven't yet started classes, are not allowed to use federal aid to finance their education. Current students who have already started classes can still use federal aid as long as the school remains open.

The federal government is also requiring ITT to increase its cash reserves and provide a letter of credit showing sufficient funding.