ITT Technical Institute

ITT Educational, rivals wrestle with tougher regulation

July 7, 2014
Bloomberg News
The U.S. Education Department has taken its toughest regulatory action ever against a for-profit college: putting Corinthian Colleges Inc., with more than 70,000 students, on the path to going out of business.
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With heat on company, ITT's CEO Modany swings backRestricted Content

May 10, 2014
J.K. Wall
But in an interview with IBJ, ITT Educational Services CEO Kevin Modany asserted that for-profit colleges are a good deal, that they produce better results than community colleges, and that they are critical for the state and nation to close the skills gap among workers.
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ITT student-loan bet stings Lilly's credit union

April 26, 2014
Chris O'Malley
A default-prone portfolio of loans to ITT Educational Services students has come back to haunt Eli Lilly Federal Credit Union, a full-service but otherwise conservative institution.
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ITT fights to stem tumbling enrollmentRestricted Content

March 16, 2013
J.K. Wall
A federal investigation and a shareholder lawsuit are the latest headwinds to threaten ITT Educational Services Inc., which is trying to reverse a precipitous decline in enrollment.
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ITT suffers tough quarter on enrollment drop, loan losses

January 24, 2013
J.K. Wall
ITT Educational Services Inc. shares swooned Thursday morning after the private educator reported sinking revenue and a $9.5 million loss in the fourth quarter. But the stock rebounded strongly later Thursday.
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Analysts: ITT's woes are likely to worsenRestricted Content

January 12, 2013
J.K. Wall
Investors have dumped the already-depressed shares of ITT Educational Services Inc. after the operator of for-profit colleges shelled out $46 million for bad private student loans it had backed to help students pay the portion of its pricey tuition that federal loans won’t cover. With fewer ITT graduates able to find jobs, the default rates on these loans has spiked.
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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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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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For-profit colleges make costly loans, report says

February 2, 2011
Bloomberg News
Companies including ITT Educational Services Inc., DeVry Inc and Career Education Corp. are making loans with “high costs” and “predatory terms,” the group said.
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UPDATE: ITT Educational profit gives shares a boost

January 20, 2011
 IBJ Staff and Bloomberg News
Shares of ITT Educational Services Inc. rose the most in a year Thursday after the for-profit educator reported a fourth-quarter profit that beat analysts’ estimates.
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ITT Educational OKs bonuses to keep managers in place

December 27, 2010
 IBJ Staff
Carmel-based ITT Educational Services Inc.’s management team will get special cash bonuses if they remain with the company until the end of June, ITT disclosed in a regulatory filing last week.
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ITT Educational, for-profit peers reaped $521M from military

December 9, 2010
Bloomberg News
Twenty for-profit colleges—led by Carmel-based ITT Educational Services—reaped $521 million in U.S. taxpayer funds in 2010 by recruiting armed-services members and veterans through misleading marketing, according to a Congressional report released Thursday.
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Proposal: Link federal aid to performance of ITT, peers

July 23, 2010
Bloomberg News
The Obama administration released a proposal that would tighten for-profit colleges’ access to federal student aid, threatening an industry that received $26.5 billion in U.S. funds last year. Carmel-based ITT Educational Services is among those potentially affected.
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Senator: For-profit colleges require tougher oversight

June 24, 2010
Bloomberg News
For-profit colleges like ITT Technical Institutes need tougher oversight and regulation, according to a report from a Democratic Senate committee chairman that questions the industry’s advertising spending, tuition costs and reliance on taxpayer money.
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New federal rules target for-profit college recruiting

June 16, 2010
Bloomberg News
The Obama administration proposed banning for-profit colleges, including Carmel-based ITT Educational Services Inc., from tying recruiters’ pay to the number of people they enroll, saying high-pressure sales tactics induced students to take out government loans they can’t afford.
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ITT Educational posts first-quarter profit, raises forecast

April 22, 2010
J.K. Wall
The Carmel-based operator of for-profit colleges pulled in profits of $85.7 million, or $2.46 per share, up nearly 44 percent from the same quarter a year ago.
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Education stocks rise as reports hint at looser rules

April 13, 2010
Bloomberg News
Shares of ITT Educational Services rose 9.6 percent Tuesday, their biggest gain in seven months.
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ITT 'buying accreditation' strategy makes critics uneasy

March 22, 2010
Bloomberg News
ITT Educational Services and other for-profit educators are buying not-for-profit colleges to gain access to their regional accreditation. The tactic could fuel rapid growth but makes critics uncomfortable.
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  1. I'm a CPA who works with a wide range of companies (through my firm K.B.Parrish & Co.); however, we work with quite a few car dealerships, so I'm fairly interested in Fatwin (mentioned in the article). Does anyone have much information on that, or a link to such information? Thanks.

  2. Historically high long-term unemployment, unprecedented labor market slack and the loss of human capital should not be accepted as "the economy at work [and] what is supposed to happen" and is certainly not raising wages in Indiana. See Chicago Fed Reserve: goo.gl/IJ4JhQ Also, here's our research on Work Sharing and our support testimony at yesterday's hearing: goo.gl/NhC9W4

  3. I am always curious why teachers don't believe in accountability. It's the only profession in the world that things they are better than everyone else. It's really a shame.

  4. It's not often in Indiana that people from both major political parties and from both labor and business groups come together to endorse a proposal. I really think this is going to help create a more flexible labor force, which is what businesses claim to need, while also reducing outright layoffs, and mitigating the impact of salary/wage reductions, both of which have been highlighted as important issues affecting Hoosier workers. Like many other public policies, I'm sure that this one will, over time, be tweaked and changed as needed to meet Indiana's needs. But when you have such broad agreement, why not give this a try?

  5. I could not agree more with Ben's statement. Every time I look at my unemployment insurance rate, "irritated" hardly describes my sentiment. We are talking about a surplus of funds, and possibly refunding that, why, so we can say we did it and get a notch in our political belt? This is real money, to real companies, large and small. The impact is felt across the board; in the spending of the company, the hiring (or lack thereof due to higher insurance costs), as well as in the personal spending of the owners of a smaller company.

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