Education Finance

ITT cash crunch has analysts raising spectre of bankruptcy

August 5, 2014
J.K. Wall
Carmel-based ITT Educational Services no longer has a margin of error, as it tries to dig out from a scuttled real estate deal, tightened rules from lenders and the feds, and its CEO's pending resignation.
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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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  1. Socialized medicine works great for white people in Scandanavia. It works well in Costa Rica for a population that is partly white and partly mestizo. I don't really see Obamacare as something aimed against whites. I think that is a Republican canard designed to elicit support from white people for republican candidates who don't care about them any more than democrats care about the non-whites they pander to with their phony maneuvers. But what is different between Costa Rica nd the Scandanavian nations on one hand and the US on the other? SIZE. Maybe the US is just too damn big. Maybe it just needs to be divided into smaller self governing pieces like when the old Holy Roman Empire was dismantled. Maybe we are always trying the same set of solutions for different kinds of people as if we were all the same. Oh-- I know-- that is liberal dogma, that we are all the same. Which is the most idiotic American notion going right back to the propaganda of 1776. All men are different and their differences are myriad and that which is different is not equal. The state which pretends men are all the same is going to force men to be the same. That is what America does here, that is what we do in our stupid overseas wars, that is how we destroy true diversity and true difference, and we are all as different groups of folks, feeling the pains of how capitalism is grinding us down into equally insignificant proletarian microconsumers with no other identity whether we like it or not. And the Marxists had this much right about the War of Independence: it was fundamentally a war of capitalist against feudal systems. America has been about big money since day one and whatever gets in the way is crushed. Health care is just another market and Obamacare, to the extent that it Rationalizes and makes more uniform a market which should actually be really different in nature and delivery from place to place-- well that will serve the interests of the biggest capitalist stakeholders in health care which is not Walmart for Gosh Sakes it is the INSURANCE INDUSTRY. CUI BONO Obamacare? The insurance industry. So republicans drop the delusion pro capitalist scales from your eyes this has almost nothing to do with race or "socialism" it has to do mostly with what the INSURANCE INDUSTRY wants to have happen in order to make their lives and profits easier.

  2. Read the article - the reason they can't justify staying is they have too many medicare/medicaid patients and the re-imbursements for transporting these patient is so low.

  3. I would not vote for Bayh if he did run. I also wouldn't vote for Pence. My guess is that Bayh does not have the stomach to oppose persons on the far left or far right. Also, outside of capitalizing on his time as U. S. Senator (and his wife's time as a board member to several companies) I don't know if he is willing to fight for anything. If people who claim to be in the middle walk away from fights with the right and left wing, what are we left with? Extremes. It's probably best for Bayh if he does not have the stomach for the fight but the result is no middle ground.

  4. JK - I meant that the results don't ring true. I also questioned the 10-year-old study because so much in the "health care system" has changed since the study was made. Moreover, it was hard to get to any overall conclusion or observation with the article. But....don't be defensive given my comments; I still think you do the best job of any journalist in the area shedding light and insight on important health care issues.

  5. Probably a good idea he doesn't run. I for one do not want someone who lives in VIRGINIA to be the governor. He gave it some thought, but he likes Virginia too much. What a name I cannot say on this site! The way these people think and operate amuses me.

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