Education Business

Federal budget cuts would hit military, education in Indiana

February 24, 2013
Associated Press
The White House has tallied the impact of automatic cuts to the federal budget set to take effect this week. Indiana will lose at least $100 million in support for the military, education, child care, seniors and services for other populations.
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CEO convinces investors that ITT is on the rebound

January 24, 2013
J.K. Wall
For a guy whose company's stock price has lost 75 percent of its value, Kevin Modany, the CEO of ITT Educational Services Inc., sounds pretty upbeat. And it seemed to rub off on investors Thursday.
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ITT agrees to pay Sallie Mae $46M to settle suit

January 7, 2013
Scott Olson
Wall Street reacted unfavorably to the settlement Monday, as ITT shares fell as much as 22 percent, to $15 a share. Shares traded for more than $66 about 10 months ago.
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Cheerleading CEO to become chief at Herff Jones

December 11, 2012
Kathleen McLaughlin
The founder of a cheerleading-supply company will become the next CEO of Indianapolis-based Herff Jones Inc., one of the city's largest private companies.
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Local campus escapes University of Phoenix closure list

October 22, 2012
 IBJ Staff
The University of Phoenix will maintain its campus in Indianapolis, a company spokesman confirmed, even as the operator of for-profit colleges closes more than half its campuses nationwide.
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Vincennes logistics program gets box of money from federal governmentRestricted Content

September 29, 2012
 IBJ Staff
$2.9 million grant will be used to bulk up logistics training and education center in Plainfield.
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Democratic report blasts for-profit colleges; ITT stock sinks

July 30, 2012
Bloomberg News, Associated Press
For-profit colleges put revenues above education, and charge students high tuition and loan rates that could leave them in debt for years, a Senate Democratic report said Monday. Stock in for-profit colleges tumbled after the report.
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ITT stock sinks after profit plunges 42 percent

July 26, 2012
J.K. Wall
ITT Educational Services Inc.'s stock took a licking Thursday after its quarterly earnings report badly missed expectations of Wall Street analysts.
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Judge says lawsuit can proceed against for-profit educator

May 15, 2012
Associated Press
A federal judge has ruled that a lawsuit can proceed against a large for-profit education company accused of using improper sales tactics to lure unqualified students and the billions of dollars in financial aid they bring. The company has two colleges in Indianapolis.
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For-profit university eyes College Park office space

May 11, 2012
J.K. Wall
South Dakota-based National American University wants to turn 35,000 square feet on the second floor of a building in the College Park office complex into its latest campus.
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Profit plummets at ITT Educational, but tops analyst expectations

April 26, 2012
J.K. Wall
First-quarter profit and revenue plunged at Carmel-based ITT Educational Services Inc. as enrollment of new students declined for the seventh straight quarter.
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Judge slaps down attorneys behind ITT fraud lawsuitRestricted Content

April 21, 2012
Greg Andrews
Judge Tanya Walton Pratt late last month granted ITT’s motion for attorney’s fees and sanctions against Mississippi attorney Timothy Matusheski, as well as two law firms that worked with him on the case—Motley Rice LLC in Los Angeles and Plews Shadley Racher & Braun LLP in Indianapolis.
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Thirty-five teams apply for $1M Mind Trust grants

March 9, 2012
J.K. Wall
The winners' mission will be to launch successful charter schools and replicate those schools at three or four additional locations around Indianapolis.
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Battle for students raises financial concern for turnaround schools

March 8, 2012
J.K. Wall
Just 62 percent of the students at four IPS schools being taken over by turnaround operators have chosen to remain at the schools, a situation that could shrink funding. The operators say the district has stymied their ability to inform students and their parents about their plans.
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For-profit colleges lose incentive to target vets under bills

February 16, 2012
Bloomberg News
For-profit college operators such as Carmel-based ITT Educational Services Inc.would lose a financial incentive to enroll soldiers and veterans under U.S. Senate and House bills aimed at curbing what sponsors call aggressive marketing of subpar programs.
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ITT Educational's profit plunges, but tops analyst expectations

January 26, 2012
J.K. Wall
The Carmel-based operator of for-profit colleges earned $76 million in the quarter compared with $97.5 million in the same quarter of 2010. Revenue fell 10 percent.
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For-profit colleges face curbs on aid in new veterans bill

January 23, 2012
For-profit colleges like Carmel-based ITT Educational Services would be forced to rely less on federal money under a bill aimed at curbing the marketing of degrees to soldiers and veterans.
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Turnaround company wants to launch feeder schools

December 14, 2011
J.K. Wall
Charter Schools USA, the Florida-based company tapped by the state government to turn around Howe and Manual high schools in Indianapolis, also wants to launch two charter elementary schools to help feed students into those schools.
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ITT Educational’s enrollment, profit fall again

October 20, 2011
The Carmel-based operator of for-profit colleges posted a 27.8-percent drop in earnings while new-student enrollment fell 14.1 percent.
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For-profit education firm denies lawsuit charges

October 5, 2011
Associated Press
Education Management Corp., which operates two schools in Indianapolis, has asked a judge to throw out a Department of Justice lawsuit that claims it used improper sales tactics to lure unqualified students and the billions of dollars in financial aid they bring.
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U.S. student-loan default rates jump sharply

September 13, 2011
Associated Press
The national two-year default rate rose to 8.8 percent last year, from 7 percent in fiscal 2008, according to the Department of Education. Driving the increase was an especially sharp increase among students who borrow from the government to attend for-profit colleges.
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ITT Educational continues enrollment, profit slide

July 21, 2011
 IBJ Staff
In the second quarter, the Carmel-based operator of for-profit colleges saw enrollment drop 19.9 percent and profit sink 17.7 percent. But the company posted strong earnings per share by continuing to buy back shares.
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Strayer Education marks opening of Indianapolis campus

June 7, 2011
J.K. Wall
For-profit university Strayer Education Inc. has opened a campus in Indianapolis, aiming to reach adult learners. The Virginia-based company has leased 20,000 square feet at 9025 N. River Road.
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ITT Educational's stock price leaps as feds ease crackdown

June 2, 2011
 IBJ Staff and Bloomberg News
The Obama administration gave for-profit colleges more time to comply with rules that will cut off federal aid to institutions whose students struggle the most to repay their government loans.
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Enrollment, profit fall at ITT Educational

April 21, 2011
J.K. Wall
The Carmel-based operator of for-profit colleges earned $85.4 million in the three months ended March 31, a 2.4-percent decline from the same quarter a year ago.
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