KANSAS CITY–Vatterott’s Career Colleges ceased operations nationally at 4:00pm Monday.  The for-profit college runs campuses across the country including Kansas City, and Springfield  and Joplin Missouri,  Memphis TN, Oklahoma City, OK, Quincy, IL, and Tulsa, OK.

A note sent to students on Monday said,“To our deep regret, changes in economic and regulatory conditions in recent years have had a significant, prolonged, negative impact on the Vatterott institutions. These changes also have made it difficult to secure additional financing or capital. In order to address these challenges, we entered into a Missouri state receivership and identified a buyer that was interested in purchasing Vatterott and investing the time and resources Vatterott would need to stabilize and flourish. We successfully signed a letter of intent with this buyer, and were prepared to move forward with a sale. Unfortunately, the U.S. Department of Education recently decided to significantly increase the restrictions on Vatterott’s participation in the federal financial aid programs. Vatterott is unable to continue operation under these restrictions, and consequently, is unable to complete the aforementioned sale. The Department imposed these restrictions despite the presence of an interested buyer and our clear communication that such restrictions would result in the school’s closure.”