Five former ITT Educational students filed a motion asking that they—and thousands of other students who attended the school between 2006 and 2016—be recognized as creditors as the school’s bankruptcy case moves forward.
Campus housing costs will range from about $2,500 to $9,500 per academic year depending on what kind of facilities students choose.
The Fishers-based not-for-profit announced Wednesday that it will transfer ownership of two affiliates—United Student Aid Funds and Northwest Education Loan Association—to Madison, Wisconsin-based Great Lakes Higher Education Corp. on Jan. 1.
Ace Preparatory Academy, started by an aide to former Indiana schools superintendent Tony Bennett, is at about 22 percent of its initial expected enrollment, with just 33 students as of Oct. 19.
The Indianapolis charter network was the only Indiana charter network to win one of the grants.
Hundreds of for-profit colleges could close, leaving up to 600,000 students scrambling to find other schools, after the Education Department withdrew recognition of the nation's largest accreditor of for-profit schools.
The Carmel-based, for-profit educator began liquidation proceedings Friday after closing 136 technical schools, leaving over 35,000 students stranded in one of the largest college shutdowns in U.S. history.
ITT Educational Services Inc., the 70-year-old for-profit college operator that shut down its 136 technical schools last week, has hired advisers to liquidate its assets, according to one of the firms brought in to handle the sales.
The Carmel-based for-profit educator, which last week shut down all 136 of its ITT Technical Institute campuses in 38 states, said it will “cease all operations” on Friday.
More than 100 former students of now-closed ITT Technical Institutes announced Wednesday they'll no longer make payments on their federal student loans, part of a revolt against what they call the Obama administration's negligence in policing for-profit colleges.
Six of Indiana’s U.S. representatives filed legislation Tuesday to help veterans regain their GI Bill education benefits after the closure of ITT Technical Institute.
Indiana Gov. Mike Pence wants the U.S. Department of Veterans Affairs to reinstate GI Benefits for students who enrolled in ITT Technical Institute, but that may not be legally possible.
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.
Two employees who were terminated Tuesday as part of mass layoff by ITT Educational Services have filed a lawsuit claiming the Carmel-based firm violated federal law by failing to provide 60-days notice. The suit seeks class-action status for as many as 8,000 employees.
The company will begin the process of liquidating, which will include selling off its Carmel headquarters and other real estate.
Shares in ITT Educational Services Inc. went into a freefall Friday, one day after the U.S. Department of Education banned the company from enrolling new students who receive federal aid. Analysts said ITT isn’t likely to survive the decision.
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.
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.
In the school year that ended in May, nearly 175,000 students were enrolled in more than 235,000 career and technical classes. That’s an 11 percent increase since the 2012-2013 school year, when Gov. Mike Pence challenged schools to serve students going to work as well as students going to college.
The state warned the institution about low passing rates earlier this year and asked for a “plan of correction”—the first step that could lead to a loss of state accreditation.