Education Finance

Voters embrace education reform locally, but not in state race

November 7, 2012
Scott Olson
Three new reform-minded IPS board members could help usher in sweeping changes to the school district. At the state level, however, school librarian Glenda Ritz denied Tony Bennett a second term as voters spurned his sweeping education overhaul.
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IU may hit jackpot by leasing parking in Bloomington, Indy

August 25, 2012
Kathleen McLaughlin
Indiana University is about two weeks away from issuing a request for proposals on a lease that would last 30 to 50 years, Chief Financial Officer Neil Theobald said. A similar deal at The Ohio State University generated $483 million.
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Indiana public schools wage unusual ad campaign

August 20, 2012
Associated Press
Struggling Indiana public school districts are buying billboard space, airing radio ads and even sending principals door-to-door in an unusual marketing campaign aimed at persuading parents not to move their children to private schools as the nation's largest voucher program doubles in size.
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New student-loan effort adding to ITT backlashRestricted Content

August 11, 2012
Greg Andrews
For-profit school operator ITT Educational Services Inc. told investors late last month that it had worked out a tentative deal with an outside party that would provide $100 million in loans to its students.
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USA Funds CEO announces retirement

August 7, 2012
Carl C. Dalstrom says he will leave the student-loan guarantor on June 30, 2013. He has led the locally based not-for-profit since July 2000.
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Sallie Mae plans to add 200 jobs in Muncie

July 27, 2012
The jobs are part of a $5 million expansion in which the company will add 20,200 square feet of space to its offices in Muncie. When finished next summer, the 75,000-square-foot facility will house 900 employees.
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Ballard moves to shut down The Project School

July 17, 2012
J.K. Wall
Indianapolis Mayor Greg Ballard announced Tuesday evening that he intends to revoke the charter that gives The Project School the authority to operate. Ballard cited poor test scores and “recently discovered financial problems.”
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Daniels unsure of lobbying role as Purdue president

June 22, 2012
Associated Press
The governor said Friday he was checking whether he could press members of the General Assembly on the university's behalf after he becomes Purdue's president in January, because of state ethics rules that require a one-year "cool down" for public officials after leaving office.
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IU to roll out student financial literacy program

June 22, 2012
Associated Press
Indiana University says its plans to offer a financial literacy program to give students the tools to complete college without excessive debt.
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Herff Jones closing yearbook plant with 130 workers

June 19, 2012
Associated Press
Herff Jones Inc. of Indianapolis has decided to close a yearbook manufacturing plant that employs 130 people in Matthews, N.C., by the end of the year.
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IPS says it must cut $27 million from budget

May 17, 2012
J.K. Wall
The proposed cuts represent about 5 percent of Indianapolis Public Schools' current budget. IPS Superintendent Eugene White will detail his spending-reduction plan on May 24 at the IPS’ central office building.
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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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Student-loan debt-collection agencies garner criticism

May 15, 2012
Bloomberg News
Lucrative incentives paid to federal student-loan collectors are sparking criticism that not-for-profit loan-guaranty agencies are reaping a bonanza from the troubles of former students. USA Funds, the largest guaranty agency, is based 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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Zionsville might pass on full-day kindergarten fundsRestricted Content

April 28, 2012
J.K. Wall
Superintendent Scott Robison informally recommended in March that the school system take a pass on the new funding because it still does not fully cover the costs required to expand its kindergarten program from half days to full days.
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Political, legal fights emerge over school vouchers

April 8, 2012
Associated Press
For all the arguments in favor of school vouchers, there are opponents who say vouchers erode public schools by taking away money, violate the separation of church and state by giving public dollars to religious-based private schools, and aren't a proven way to improve test scores.
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Tax caps zap schools in Zionsville; Lebanon district awash in cashRestricted Content

March 31, 2012
J.K. Wall
Changes made five years ago in state property-tax laws have strangled the school district in wealthy Zionsville, while schools in neighboring blue-collar Lebanon are in solid financial shape.
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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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Education committee backs looser school voucher rules

January 25, 2012
Associated Press
A proposal that would make thousands of current private school students eligible for Indiana's school voucher program has been endorsed by a state legislative committee, although cost concerns might block its chances of advancing this year.
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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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IU, Lilly Endowment plan 'major' announcement

January 10, 2012
 IBJ Staff
Top officials from Indiana University and its Kelley School of Business are set to make a “major” announcement Wednesday afternoon likely involving a gift from the Lilly Endowment.
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Legislation seeks more aid for college athletes

January 9, 2012
Associated Press
The legislation would require large athletic programs to cover all sports-related medical expenses incurred by athletes. In addition, the legislation would require colleges to continue providing financial aid to students whose athletic scholarships are revoked despite being in in good standing.
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Advocates: Vouchers living up to expectations

December 14, 2011
Associated Press
Nearly 4,000 students who formerly attended public schools are receiving tax money to help pay the cost of private school under Indiana's school voucher program, which is believed to be the nation's largest, officials say.
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