2024-06-13
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Pittsburgh Technical College Folds After Failing to Achieve Financial Stability
Pittsburgh Technical College Shuts Down After Years of Financial Struggle
Pittsburgh Technical College Folds After Failing to Achieve Financial Stability
Pittsburgh Technical College, a private nonprofit institution, has announced its imminent closure after warnings from its accreditor, the Middle States Commission on Higher Education, about potential accreditation loss and the risk of shutting down. Despite efforts to raise revenue, reduce debt, forge partnerships, and improve enrollment, the institution's board concluded that long-term fiscal stability was unattainable. Enrollment had plummeted nearly 40% between 2017 and 2022, resulting in significant financial deficits. The college is now working with federal regulators and its accreditor to facilitate a smooth transition for students to its teach-out partners.
Following closely on the heels of Pittsburgh Technical College's shutdown announcement, Triangle Tech, a for-profit institution with campuses in Pennsylvania, has also declared its plans to close all its U.S. locations. Enrolling around 260 students, Triangle Tech's closure is part of a broader trend of financial instability and declining enrollments among regional educational institutions. To support affected students, a local educational nonprofit will provide $1,500 scholarships to help them complete their degrees. This follows a recent rejection by MSCHE of Pittsburgh Tech's teach-out plan, underscoring the mounting challenges facing these colleges.
Following closely on the heels of Pittsburgh Technical College's shutdown announcement, Triangle Tech, a for-profit institution with campuses in Pennsylvania, has also declared its plans to close all its U.S. locations. Enrolling around 260 students, Triangle Tech's closure is part of a broader trend of financial instability and declining enrollments among regional educational institutions. To support affected students, a local educational nonprofit will provide $1,500 scholarships to help them complete their degrees. This follows a recent rejection by MSCHE of Pittsburgh Tech's teach-out plan, underscoring the mounting challenges facing these colleges.
