Education Finance

Ballard proposes $50M preschool program as part of crime initiative

July 30, 2014
J.K. Wall
Mayor Greg Ballard on Wednesday proposed a 5-year program to pay for preschool for 4-year-olds from low-income families. He also floated hiring another 280 police officers. The cost to the average household would be $86 per year.
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For-profit colleges tap GI Bill loophole for business

July 30, 2014
Bloomberg News
The so-called “90/10 rule” limits a for-profit college to getting no more than 90 percent of its revenue from the government. However, veterans’ and military tuition programs are excluded from the cap, and the colleges have aggressively recruited from the military.
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Sallie Mae spinoff Navient tries not to shrinkRestricted Content

July 12, 2014
J.K. Wall
Navient Corp., which employs 2,300 in its Fishers, Indianapolis and Muncie offices, is in the running for a big contract with the U.S. Department of Education even as the student-loan-servicing company faces criticism after admitting it overcharged military service members by millions of dollars.
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For-profit educator closing 12 campuses in 11 states

July 8, 2014
Associated Press
Corinthian Colleges Inc., which competes against Carmel-based ITT Educational Services Inc., said Tuesday that a campus in Indiana is on its closure list.
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IU students get more information, borrow less

July 3, 2014
Bloomberg News
A simple letter from Indiana University led its students to reduce borrowing by far more than the national average last academic year. Federal undergraduate Stafford loan disbursements at the university dropped 11 percent, or $31 million.
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ITT Educational says access to student-loan funds in danger

July 2, 2014
 Bloomberg News and IBJ Staff
Carmel-based ITT Educational Services Inc. said the U.S. Education Department may limit its access to student-loan funds because the company is unable to provide audited financial statements.
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IPS, Mind Trust choose school-turnaround fellows

June 26, 2014
J.K. Wall
The fellows will work to develop new approaches for struggling IPS schools, including concepts that focus on entrepreneurship and the Montessori method.
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New state incentives to keep quality students lack funding

June 23, 2014
Paige Clark, The Statehouse File
A plan to keep top-performing students home in Indiana after they graduate from college passed the General Assembly unanimously earlier this year, but it could face trouble as lawmakers decide how to fund it.
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New law paves way for more adult high schools

June 20, 2014
Alec Gray, The Statehouse File
To get approved, a school must have programming that differs from a regular high school, has flexible scheduling, provides the majority of the instruction in the classroom, and offers dual credit or industry certifications.
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UPDATE: ITT's stock tumbles after report of loan losses

May 22, 2014
J.K. Wall
ITT Educational Services Inc. stock plunged more than 31 percent Thursday after it announced that it spent an extra $43.7 million in the first quarter to cover mounting losses on private student-loan programs.
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Purdue trustees OK tuition freeze for 3rd year

May 16, 2014
Associated Press
The trustees' approval means students who entered Purdue University in the fall of 2012 will never see an increase in tuition.
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Sallie Mae, Justice Department in $60M settlement

May 13, 2014
Associated Press
Student lender Sallie Mae has reached a $60 million settlement with the Justice Department to resolve allegations that it charged members of the military excessive interest rates on their student loans, the federal government announced Tuesday.
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U.S. student-loan debt adds to growing wealth gap

March 27, 2014
Associated Press
Roughly 37 million people in the U.S. are saddled with $1 trillion in student debt, a factor contributing to the widening of the gap between rich and everyone else in the country.
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Feds revise for-profit college rules after court block

March 14, 2014
Bloomberg News
ITT Educational stock fell Friday after the Obama administration said it has revised its regulatory package for for-profit colleges, rewriting a proposal that the education industry blocked in court almost two years ago.
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Plan would help pay loans for some Indiana teachers

March 11, 2014
Associated Press
The legislation would provide loan reimbursements of up to $9,000 for some of those teaching science, technology, engineering or math.
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Feds' ITT lawsuit built on reports from mystery shoppers

March 8, 2014
J.K. Wall
The shoppers, who were hired by the Carmel-based operator of for-profit colleges, generated the bulk of the material cited in the Consumer Financial Protection Bureau’s complaint.
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Chamber recommends IPS explore selling real estate

February 24, 2014
J.K. Wall
Indianapolis Public Schools should immediately consider selling five of its buildings and work with IndyGo to transport students, according to a study by the Indianapolis Chamber of Commerce.
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Lockheed Martin grants $6M to program of local ed group

February 18, 2014
The funds will boost an initiative by Project Lead the Way Inc. to expand science- and math-related curriculums in U.S. urban school districts.
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State joins plan to help students graduate with less debt

February 11, 2014
Erika Brock, The Statehouse File
Gov. Mike Pence announced Monday that Indiana is one of three states selected to lead a national initiative aimed at ensuring more college students graduate on time and with less debt.
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Pence gives $9.7 million in grants for STEM programs

January 23, 2014
Ben Vandivier, The Statehouse File
The grants went to 10 organizations working to help support teacher recruitment and training in the areas of science, technology, engineering and math.
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Purdue president seeks tuition freeze for 3rd year

January 14, 2014
Associated Press
Mitch Daniels said he plans to call on Purde trustees to extend the two-year tuition freeze for one more year as part of a push to make the university more attractive and affordable for families.
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Education board won't change schools' grades

October 2, 2013
Associated Press
Indiana's State Board of Education declined Wednesday to change the grades for a handful of schools following a review of changes the former public schools superintendent made last year to the grading formula.
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Debt collectors brawling in courtRestricted Content

August 24, 2013
Dan Human
Todd Wolfe, the 41-year-old founder of Deca Financial Services in Fishers, is at the center of a legal feud with Educational Credit Management Corp., an Oakdale, Minn., not-for-profit that insures $35 billion in federal student loans.
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Operators of takeover schools worry about funding

June 30, 2013
Associated Press
Private companies that were hired to run five Indiana schools taken over by the state for poor performance say they might not be able to continue because of funding concerns.
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Ball State trustees OK 2-percent tuition hike

June 6, 2013
Associated Press
The 20,000-student school says the increase approved Thursday is the lowest at Ball State in 37 years.
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  1. The Affordable Care Act is not the reason for the slow recovery and lack of high paying jobs for low skill workers. This is a trend that has been going since the early 80's. The recovery is real in the sense that GDP has been growing steadily at a rate of roughly 2.5% since the recession ended in late 2009 (newsflash, the stimulus worked) and the unemployment has been steadily dropping. The reason issue we are facing deals with a skills gap (not enough workers with the right credentials / experience) and wage stagnation due to corporate America being focused solely on maximizing profits for shareholders and not caring about the American middle class. Why should they? Multi-billion dollar mutlinational companies keep offshoring their profits in order to avoid paying taxes (which makes our deficit worse) they convince Americans to fight amongst themselves. If you want to create jobs and reduce the deficit, raise the minimum wage and change corporate tax laws. Of course, if you want to continue to belive that tax cuts for wealthy create jobs (which they don't) and allow corporations and the wealthy to continue to make you cover more and more of the costs of maintaining infrastructure, funding the military and other government services, then keep voting Republican. Hopefully someday you wake up and realize what's been going on since Reagan took office.

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  5. I thought this company would go bankrupt in 2013/2014. I predicted that four years ago. I was wrong. It will take another couple of years, but they will get there.

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