Students in high school are generally focused on life after graduation. For many, this includes colleges. Sometimes, students decide to attend a community college either for the programs offered or the lower cost.

Two of the largest community colleges in Indiana are Ivy Tech and ITT Tech, both of which cost significantly less than a degree from a four year college or university.

According to CNN Money, ITT Tech has 130 campuses around the country and all of these campuses will be shut down by the start of next week. Currently, 99% of all ITT Tech students receive some form of financial aid from the federal government, and the government decided it was best to shut them down, effective September 12.

Before the shut down occurred, ITT Tech received federal sanctions prohibiting them from accepting any students applying for financial aid. In addition, ITT Tech is currently under investigation for fraud.

The Indy Star stated that there are about 40,000 students enrolled nationwide, and these students will all be out of school now. They will not be able to enroll in another school until December 2016, and when they do, it is possible that their credits will not transfer to another school.

It also means that 8,000 employees are out of work and must find other jobs, since the school must lay them all off.