This would possibly be a perfect time for individual students to start filing arbitration cases against ITT. I think the arbitration organization even offers a way to pursue even if you don't have the funds to file the case in terms of your part of the filing fee.
This would overload their finances in a major way since they also have to provide a large payment for each arbitration case filed against them to get it moving.
Correct me if I am wrong (if there is an attorney in the house) but if they were unable to pay or keep up with these fees it would be a breach of contract and possibly a way to get your case in front of a judge instead of an arbitrator?
I don't have a background in doing this with student loans but I have navigated the arbitration/federal courts against debt collectors and it was a very profitable venture for me.
Just looking at different methods of attack to kick the proverbial dog while he is down.
Anyone have any thoughts on this?