Suit Filed Against ITT Tech College Chain

February 27, 2014
By

ITT Educational Services is facing a lawsuit alleging it pushed students into costly loans. (Image: ITT Tech)

ITT Educational Services is facing a lawsuit alleging it pushed students into costly loans. (Image: ITT Tech)

ITT Educational Services is facing a lawsuit that says the school pushed students into costly private student loans knowing they would likely end in default.

The lawsuit was filed by Consumer Financial Protection Bureau alleging that the Indiana based college chain which includes ITT Tech, projected a default rate of 64 percent o provided loans- some of which had interest as high as 16 percent.

The Bureau hopes to gain restitution for students, penalties against the company and a fine. An ITT spokesman said the claims are without merit .

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