http://www.businessinsider.com/itt-tech-has-ceased-enrollments-2016-8
Article in Business Insider, with quotes from Ben Miller, a senior director at the Center for American Progress and a former senior policy advisor at the Department of Education:
...Since ITT Tech must meet the ED's conditions by September 5, Miller anticipates a bleak outlook for the company. "Barring a big change, I would guess that by then [ITT] would either have tried to sell itself or will have declared bankruptcy, unless it sues and wins an injunction, which is a possibility but likely difficult," he said.