ITT shares surge again after another profit surprise
Shares of ITT Educational Services Inc. shot up by as much as 60 percent Friday morning after the company reported that its first-quarter profit had nearly tripled from a year ago.
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New York lawsuit targets local test-preparation company
New York's attorney general has filed a lawsuit against an Indianapolis-based seller of online nursing studies, alleging it deceptively induced up to 2,000 New Yorkers to sign up in hopes of obtaining an associate's degree in nursing.
ITT Educational shares soar after surprisingly strong profit
Shares of ITT Educational Services nearly doubled in value Friday morning after the company reported a 2014 profit more than three times higher than analysts expected and said its CEO would stay on for another three months.
UPDATE: SEC hits ITT Educational, execs with fraud charges
ITT Educational CEO Kevin Modany and Chief Financial Officer Daniel Fitzpatrick allegedly “engineered a campaign of deception and half-truths” to hide from investors the extent of losses ITT was suffering from student loan programs, the SEC said Tuesday morning.
Corinthian students steered to other schools under investigation
Corinthian Colleges students, whose schools closed this week amid fraud allegations, are being steered by the U.S. Education Department to other for-profit chains also under investigation for similar misbehavior, including Carmel-based ITT Educational.
For-profit college operator Corinthian calls it quits
Corinthian Colleges Inc.—which once competed with the country’s biggest for-profit education companies, including Carmel-based ITT Educational Services—shut down its remaining 28 schools Monday, essentially completing the biggest collapse in U.S. higher education.
High court: Constitution doesn’t require school bus service
The decision stems from a case involving the Franklin Township school district in Indianapolis, which was sued after it eliminated free bus service for the 2011-2012 school year.
ITT Educational shares soar on loan agreement
The Carmel-based, for-profit educator announced Thursday that it had secured a much-needed, $100 million loan.
For-profit programs face ‘gainful employment’ rule
Schools with career-oriented programs that fail to comply with a new rule announced Thursday by the Obama administration stand to lose access to federal student-aid programs.
ITT Educational shares keep soaring after better news
Investors warmed to news that student enrollment during the spring and summer fell less than expected and that ITT has the cash on hand to get through recent troubles caused by student loan losses.
Daniels says Purdue fundraising needs improvement
Purdue University President Mitch Daniels said he isn't surprised that he likely won't receive all the incentive pay that's included in his contract.
Indiana University opening overseas offices
Indiana University officials are planning to open at least a half-dozen overseas offices to help raise the school's profile around the world.
DePauw announces $300 million fundraising goal
The Greencastle university said it already has raised more than $200 million toward the goal. About $100 million of the total will go toward a new endowment for need-based financial aid.
ITT shares plunge 35 percent after SEC threatens action
ITT Educational Services Inc. dodged a bullet from the U.S. Department of Education, according to a securities filing issued Friday morning, but now faces a new threat: a potential enforcement action from the U.S. Securities & Exchange Commission.
ITT Educational scrutiny spreads to college’s lenders
For-profit college ITT Educational Services Inc., already under pressure from the U.S. Education Department, is facing stricter terms from lenders that could put its operations at risk.
ITT cash crunch has analysts raising spectre of bankruptcy
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.
ITT Educational CEO signals resignation amid stock freefall, federal scrutiny
Carmel-based ITT Educational Services Inc. announced late Monday afternoon that CEO Kevin Modany planned to resign within six months. The struggling for-profit education firm has drawn scrutiny from government officials for its marketing and lending practices.
ITT Educational shares reeling after deal falls through
The real estate deal would have brought as much as $119.1 million for the struggling, Carmel-based education firm.
For-profit colleges tap GI Bill loophole for business
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.
For-profit educator closing 12 campuses in 11 states
Corinthian Colleges Inc., which competes against Carmel-based ITT Educational Services Inc., said Tuesday that a campus in Indiana is on its closure list.