The Echo

http://www.newarkpostonline.com/articles/2010/01/04/news/doc4b42b47f8e54f988059211.txt
Computer training schools shut down


Published: Monday, January 4, 2010 9:49 PM CST

A computer training school was shut down, with a bank being blamed for the action.

According to a notice on its website, ComputerTraining.edu was shut down by BB&T bank and forced to close all schools and corporate offices with no notice to students, creditors, employees, management or shareholders. ComputerTraining.edu operates a campus in Newark.

After seventeen years in business, on Christmas Eve December 24th, 2009 ComputerTraining.edu was sent an email notifying them that their primary financier, BB&T bank, had frozen their line of credit, bank accounts and was seizing all assets immediately, according to the posting. They also instructed Computertraining.edu to lock down all locations and not allow employees access to collect personal belongings. This request stunned the ComputerTraining.edu management team who refused to comply. All employees were allowed access and terminations were made face to face, the posting reported.

Regardless of the fact that there were sufficient funds to do so, BB&T decided not to pay ComputerTraining.edu employees or keep training centers open to allow enrolled students to complete their schooling. Several attempts have been made by ComputerTraining.edu management to remedy the situation without success.

Current students should contact their state's board of education as soon as possible to work through refunds and remedies. ComputerTraining.edu has posted surety bonds and restricted cash deposits with the states which will be used to help students transfer to another school or obtain refunds.

ComputerTraining.edu is working together with Sallie Mae and all State Agencies to ensure that BB&T does the right thing and teaches out the classes and/or guarantees all refunds, the posting claimed.