ITT Educational Services, the parent company of ITT Technical Institutes, filed for bankruptcy Friday, just a few weeks after ceasing operations.

The school, which enrolled roughly 35,000 students, shut down earlier this month following a decision by the Department of Education to ban the school from enrolling new students using federal financial aid. Like many for-profit colleges, ITT relied heavily on federal financial aid to operate.

The company’s bankruptcy marks the second collapse of a major for-profit college chain in as many years. Corinthian Colleges filed for bankruptcy in 2015, amid allegations the school lured borrowers with inflated job placement and graduation rates.

Department officials said they took action against ITT because its shaky financial management made it too large of a risk for taxpayers. Still, they acknowledged that the move could push the company to shut down, leaving students in limbo. Students who attended ITT at the time of its closure are eligible to have their federal loans wiped away if they don’t complete their program elsewhere.

If every eligible student seeks a loan discharge, it would cost taxpayers about $500 million, according to Department figures. Some of that could be offset by the roughly $90 million the Department previously asked ITT to set aside in case of a shut down.

The company’s bankruptcy would likely complicate its ability to pony up any more in relief. In its bankruptcy filing, ITT listed both its estimated assets and liabilities at between $100,000,001 and $500,000,000.

Borrowers who attended ITT previously and believe they were wronged by the school can also apply to have their loans forgiven through a process known as defense to repayment. There’s no guarantee they’ll get their loans wiped away unless they can prove they were defrauded. ITT is facing probes from other federal agencies and states’ attorneys general over claims they misled students and investors. If those investigations turn up evidence of fraud, borrowers may be able to use that evidence to apply for relief.

Still, some former ITT students are pressuring the Department to forgive their loans, arguing there’s enough information out there to indicate they were wronged. More than 100 former ITT students announced they would collectively stop paying their loans earlier this week as a way to call attention to their plight.