Shares of ITT Educational Services Inc., one of the country's largest for-profit colleges, tumbled nearly 17 percent Monday after it disclosed that U.S. regulators subpoenaed documents related to private loan programs for its students.
The White House has tallied the impact of automatic cuts to the federal budget set to take effect this week. Indiana will lose at least $100 million in support for the military, education, child care, seniors and services for other populations.
For a guy whose company’s stock price has lost 75 percent of its value, Kevin Modany, the CEO of ITT Educational Services Inc., sounds pretty upbeat. And it seemed to rub off on investors Thursday.
Wall Street reacted unfavorably to the settlement Monday, as ITT shares fell as much as 22 percent, to $15 a share. Shares traded for more than $66 about 10 months ago.
The founder of a cheerleading-supply company will become the next CEO of Indianapolis-based Herff Jones Inc., one of the city's largest private companies.
The University of Phoenix will maintain its campus in Indianapolis, a company spokesman confirmed, even as the operator of for-profit colleges closes more than half its campuses nationwide.
$2.9 million grant will be used to bulk up logistics training and education center in Plainfield.
For-profit colleges put revenues above education, and charge students high tuition and loan rates that could leave them in debt for years, a Senate Democratic report said Monday. Stock in for-profit colleges tumbled after the report.
ITT Educational Services Inc.'s stock took a licking Thursday after its quarterly earnings report badly missed expectations of Wall Street analysts.
A federal judge has ruled that a lawsuit can proceed against a large for-profit education company accused of using improper sales tactics to lure unqualified students and the billions of dollars in financial aid they bring. The company has two colleges in Indianapolis.
South Dakota-based National American University wants to turn 35,000 square feet on the second floor of a building in the College Park office complex into its latest campus.
First-quarter profit and revenue plunged at Carmel-based ITT Educational Services Inc. as enrollment of new students declined for the seventh straight quarter.
Judge Tanya Walton Pratt late last month granted ITT’s motion for attorney’s fees and sanctions against Mississippi attorney Timothy Matusheski, as well as two law firms that worked with him on the case—Motley Rice LLC in Los Angeles and Plews Shadley Racher & Braun LLP in Indianapolis.
Schools taking part in the federal funding must implement one of four intervention models to get their programs back on track and to boost students’ academic performance.
The winners’ mission will be to launch successful charter schools and replicate those schools at three or four additional locations around Indianapolis.
Just 62 percent of the students at four IPS schools being taken over by turnaround operators have chosen to remain at the schools, a situation that could shrink funding. The operators say the district has stymied their ability to inform students and their parents about their plans.
For-profit college operators such as Carmel-based ITT Educational Services Inc.would lose a financial incentive to enroll soldiers and veterans under U.S. Senate and House bills aimed at curbing what sponsors call aggressive marketing of subpar programs.
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.
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.
Charter Schools USA, the Florida-based company tapped by the state government to turn around Howe and Manual high schools in Indianapolis, also wants to launch two charter elementary schools to help feed students into those schools.
