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.
ITT Educational Services
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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.
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.
ITT Educational says access to student-loan funds in danger
Carmel-based ITT Educational Services Inc. said the U.S. Education Department may limit its access to student-loan funds because the company is unable to provide audited financial statements.
For-profit education company warns it may have to shut down
Corinthian Colleges is a competitor of Carmel-based ITT Educational Services Inc. Firms in that field have seen enrollment drop amid heightened government scrutiny.
UPDATE: ITT’s stock tumbles after report of loan losses
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.
Credit unions back to normal following unusual 2012 high
Net income growth among nine big credit unions serving the metro area moderated in 2013 after record earnings for the industry locally and largely across the nation in 2012.
With heat on company, ITT’s CEO Modany swings back
But in an interview with IBJ, ITT Educational Services CEO Kevin Modany asserted that for-profit colleges are a good deal, that they produce better results than community colleges, and that they are critical for the state and nation to close the skills gap among workers.
Feds revise for-profit college rules after court block
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.
Feds’ ITT lawsuit built on reports from mystery shoppers
The shoppers, who were hired by the Carmel-based operator of for-profit colleges, generated the bulk of the material cited in the Consumer Financial Protection Bureau’s complaint.
ITT delays financial statements amid student-loan probe
Carmel-based ITT Educational Inc. said it’s unable to file its 2013 annual report because of a federal investigation into its accounting practices.
Feds sue ITT Educational over loan 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.
ITT shares in freefall as student-loan losses mount
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.