Thousands of beauty school students showed up to class Thursday only to learn their school had been closed.
Regency Beauty has 79 schools across the United States including two in Arizona.
Dozens of students of Regency Beauty Institutes in the Valley woke up this morning with a big question mark on their future.
"My heart kinda sank because what I love to do just got taken away from me," said student Lauren Steffie.
Students from the cosmetology school tell me they got word just yesterday evening from the school that they would be shutting their doors nationwide due to financial issues.
On the school's website they blame "a negative characterization of for-profit education by regulators and politicians that continues to worsen".
Thursday the Department of Education said that one of the schools was on probation for not meeting financial standards; they were given 75 days to fix the financing but instead FOX 10 was told Regency decided to pull the plug and shut down all 79 locations.
Leaving students scrambling.
Several of them rushed to the Studio Academy of Beauty on Thursday. The locally owned beauty school has opened up their doors to work with the students on transferring. But many of them still have questions.
Perhaps the biggest concern for most the Valley students, the thousands of dollars they took out in federal loans to attend the school.
to read NACCAS' statement on the closure of Regency Beauty Institutes