ITT Educational Services Inc. stock plunged more than 31 percent Thursday after it announced that it spent an extra $43.7 million in the first quarter to cover mounting losses on private student-loan programs.
School officials across Indiana are taking issue with a report by Ball State researchers that suggests mergers of smaller districts are inevitable.
ITT Educational stock fell Friday after the Obama administration said it has revised its regulatory package for for-profit colleges, rewriting a proposal that the education industry blocked in court almost two years ago.
Carmel-based ITT Educational Inc. said it’s unable to file its 2013 annual report because of a federal investigation into its accounting practices.
ITT Educational Services Inc. is being sued by the U.S. Consumer Financial Protection Bureau over allegations the for-profit college chain engaged in predatory lending by pushing students into loans likely to end in default.
The bulk of the money, to be spent over five years, will go to a 134,000-square-foot health sciences center, which will provide training space for the university’s nursing, physical therapy and other health care students.
ITT Educational Services took it on the chin in the fourth quarter as big payments stemming from a 2009 student-loan arrangement forced an $11.6 million loss. Adding to the woes is another probe by the federal government.
For-profit colleges, bruised by years of investigations and rule-making, may face additional financial pressure from a new wave of state probes by attorneys general and the U.S. Consumer Financial Protection Bureau.
For-profit education companies are facing public criticism and regulatory scrutiny over high drop-out rates, graduates' poor job prospects and the high debt levels of its students.
The U.S. Consumer Financial Protection Bureau is investigating at least two for-profit colleges, including ITT Educational Services Inc., over potentially abusive practices in marketing and originating student loans.
ITT Educational Services Inc. said new-student enrollment rose 5.2 percent in the third quarter, to 20,307. However, total student enrollment was down 7 percent from a year ago, to 60,997.
Chalkbeat Indiana will focus on Indianapolis Public Schools, the Indiana General Assembly and the State Board of Education. Editor Scott Elliott took the reins on Monday.
The outrage that seemed to leap from an order that Judge Tonya Walton Pratt issued last year was entirely missing from a new appeals court ruling reversing her dismissal and the attorneys’ sanctions.
The Carmel-based operator of for-profit colleges signed up 16,883 new students in the quarter ended June 30, a 7.5-percent increase from the same period last year.
The IPS board has chosen Lewis Ferebee from North Carolina to replace Eugene White, who led IPS for nearly eight years. The 39-year-old Ferebee has been chief of staff in the Durham Public Schools district, roughly the same size as IPS.
The student lender wants to separate its education loan management and consumer bank businesses into two publicly traded entities. The firm is a major employer in Indiana, with more than 2,600 employees at offices in Indianapolis, Fishers and Muncie.
The school is nearly three-fourths of the way to reaching its goal of $40 million in savings or new revenue.
Dallas-based BSN Sports will join the Herff Jones portfolio of companies and continue to operate as its own branded entity. Combined annual revenue is expected to top $1 billion.
In the heart of a mediocre earnings season for public companies, Indianapolis-based firms Angie’s List and ITT Educational Services on Thursday shot to the top of the stock ticker.
Profit and revenue fell dramatically in the first quarter as students continued to steer away from the Carmel company, one of the country's largest for-profit colleges.
