The closure of ITT’s 136 campuses threatens to throw some 29,000 indebted students off their educational tracks, and to saddle taxpayers with nearly a half-billion dollars in losses.
The company will begin the process of liquidating, which will include selling off its Carmel headquarters and other real estate.
Carmel-based ITT Educational Services Inc. announced Tuesday morning that it will permanently “discontinue academic operations” at all ITT Technical Institutes campuses. The company blamed the closure on “inappropriate and unconstitutional” federal sanctions.
Elsewhere in Indiana, universities are seeing mixed results with their enrollment.
Under CEO Kevin Modany's stewardship over the past decade, ITT Educational Services Inc. has seen its stock market value drop from $2.9 billion to $8 million.
A new partnership between the Purdue Polytechnic Institute and the Lafayette campus of Ivy Tech Community College might help fill the employment pipeline for the $100 million-plus jet engine plant that General Electric recently built in Lafayette.
A University of North Dakota study predicts that annual pilot deficits will escalate over the next decade and will total 15,000 by 2026.
The work is all part of a long-term university plan that includes more than $130 million in new construction.
Enrollment at the newest of Ivy Tech Community College’s 32 campuses is growing, despite falling attendance at some of the college’s other locations.
The decision is a potential death blow to Carmel-based ITT, which derives most of its revenue from federal loans and grants. Its stock was halted Thursday after shares fell 35 percent.
After spending almost 25 years as the front man for Boilermaker sports, Morgan Burke is ready to step down and revel in becoming just another fan.
Data from Indiana University’s enrollment office show that this year’s freshman class might not be the largest, but they could be the smartest.
Carmel-based for-profit college operator ITT Educational Services Inc. has received a brief reprieve from its accreditor, which has delayed making a decision that could potentially devastate the embattled company.
Welding, cutting, soldering and brazing are lumped together and rank high on the Hoosier Hot Jobs list.
Indiana University has brought in more money during the previous fiscal year than ever before—nearly $944 million.
Indiana University-Purdue University Fort Wayne athletic teams plan to go simply by the name of the city as part of a rebranding effort.
Mike Bobinski will succeed Morgan Burke, who announced in February he was retiring after 23 years in the position.
The Purdue Wine Group Team has fewer resources to take care of the larger and growing industry because of a decline in the amount of funding the program is receiving from a state excise tax.
Criminal investigations of former Ball State investment director Gale Prizevoits by federal prosecutors and the Indiana Secretary of State also produced no charges.
The Indianapolis workforce for publisher Pearson has decreased from 850 to 180 full-time workers over the last 18 years, but a company executive told IBJ this week the firm is much more likely to grow here than shrink further.
