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The U.S. Department of Education announced Thursday it will cancel $1.1 billion in student debt for 115,000 borrowers. The relief will go to those who attended ITT Technical Institute, a for-profit school that is now defunct. The school is accused of misrepresenting itself and steering students into pricey private loans. These borrowers didn’t finish their degrees and left the school after March 31, 2008.

The move is part of the borrower defense program, which offers loan repayment forgiveness for students who feel they were misled by an institution of higher education.

When the Department of Education was established in 1979, no one would have thought that it was authorized to administer the death penalty to colleges that bureaucrats wanted to get rid of. But that is exactly where we are today. The demise of ITT Tech illustrates the unchecked power of federal regulators under our administrative law system wherein bureaucratic agencies get to act as lawmaker, judge, jury, and executioner all rolled into one. That concept is completely at odds with the way the Founders thought government should function, a point made with great power by Professor Philip Hamburger in his...

Tyrants throughout history have known that beheading their enemies and placing the heads on pikes at the gates of their capitals sends a powerful message to everyone else. Behave yourself as we dictate, and you may survive. Cross the king, and you are a dead man. Something very similar, but updated and taken to a vast financial level, happened to ITT Tech, the privately owned trade school/university. As the Wall Street Journal explains, it crossed the king (in this case, the Obama Department of Education): ITT Technical Institute folded on cue Tuesday after the Obama Administration issued a regulatory death...

The for-profit college chain ITT Technical Institute is shutting down all 130 of its U.S. campuses, saying Tuesday it can't survive recent sanctions by the U.S. Department of Education. In a letter to more than 35,000 students, the Indiana-based parent company ITT Educational Services announced that campuses won't open for the fall term that was scheduled to begin Sept. 12 — leaving students scrambling for last-minute options since many U.S. colleges already have started fall classes. ITT also cut more than 8,000 jobs immediately....

"It is with profound regret that we must report that ITT Educational Services, Inc. will discontinue academic operations at all of its ITT Technical Institutes permanently after approximately 50 years of continuous service. With what we believe is a complete disregard by the U.S. Department of Education for due process to the company, hundreds of thousands of current students and alumni and more than 8,000 employees will be negatively affected. The actions of and sanctions from the U.S. Department of Education have forced us to cease operations of the ITT Technical Institutes, and we will not be offering our September...

Looking for best quickest cheapest route to make my boys into Systems Admins. Network Systems Administration: Is this hooking up and maintaining networks? Whats Information Systems Administration? Are these good routes: ITT? Devry? Other? Thank you.

Plea Agreement Night-vision equipment maker ITT Corp. will pay $100 million in penalties and forfeitures and plead guilty to two felonies for illegally sending classified or controlled information to foreign countries, the U.S. Attorney’s Office announced today. “Simply put, the criminal actions of this corporation have threatened to turn on the lights on the modern battlefield for our enemies and expose American soldiers to great harm,” U.S. Attorney John Brownlee said in a statement. “For this, ITT Corporation must be brought to justice.” "We have been cooperating with the government in this investigation and we have voluntarily disclosed all discrepancies...

NBC News has learned that the Justice Department on Tuesday will announce a $100 million fine against defense contractor ITT Corp (ITT) for allowing China to obtain the design for the latest generation of night vision goggles. US. officials charge that in order to save money, ITT U.S. to Fine ITT For Allowing China to Obtain Night Vision Goggles outsourced some of the manufacturing to a company in Singapore. That company, in turn, subcontracted some of the work to companies in China. "They have all our technology now," a law enforcement official told NBC News. Full article here: http://www.cnbc.com/id/17757567

BERLIN -- German soldiers suffering from cancer that they blame on radiation from radar equipment filed a lawsuit Tuesday in a U.S. court seeking damages from U.S.-based manufacturers, their lawyers said. [...]