ITT Technical Institute, is a for-profit technical institute with over 130 campuses in 38 states of the United States. ITT Tech is owned and operated by ITT Educational Services, Inc., a publicly traded company headquartered in Carmel, Indiana.Students and employees have written critically about the school's high tuition and low academic standards. ITT Technical Institute charges among the highest tuition in the industry. It also has the industry's highest rate of loans that go into default within two years of attendance. In 2014, the tuition for attending an ITT Tech campus ranged from $45,000 to $85,000. According to ITT Tech literature, credits earned at ITT Tech are unlikely to transfer to other colleges.On February 26, 2014, the Consumer Finance Protection Bureau sued ITT, alleging that they used high-pressure tactics to coerce students into high-interest private loans that were likely to end in default. ESI is also being investigated by at least a dozen state attorneys general. On October 19, 2015, the U.S. Department of Education announced that because of the company's failure "to meet its fiduciary obligations," it was being placed under "heightened cash monitoring".With assistance from the Debt Collective, ITT Tech students have filed defense to repayment paperwork to have their student loan debts forgiven.HistoryITT Tech was founded in 1946 as Educational Services, Inc. and has been headquartered in Carmel, Indiana, since 1969. From 1965 until its IPO in 1994, ITT Tech was a wholly owned subsidiary of ITT Corporation (as "ITT/ESI"). By 1999, ITT Corp. (which had merged with Starwood Hotels & Resorts Worldwide the year before) divested itself completely of ITT Tech's shares but the schools still use the "ITT" name under license. It operates over 130 ITT Technical Institutes across the US, which primarily provide career-focused degree programs to approximately 60,000 students.