Brown Mackie to close Indianapolis campus in nationwide retreat
The for-profit educator has struggled with demand at 22 of its 26 locations nationwide. The college also just emerged from deep legal trouble as the result of its recruiting practices.
Student loans
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Schools, state trying to boost college affordability
Has Indiana made any progress in tackling student debt since students started racking it up through the Great Recession? The answer is somewhat complicated, higher education finance experts say.
Purdue signs firm to examine student income-share deals
Purdue University is taking the next step toward a controversial program in which students could get financial help for school from so-called investors in exchange for some of their future earnings.
Settlement covers ex-Brown Mackie, Art Institutes students
Education Management Corp., the parent company of the schools, will pay Indiana, four other states and the federal government $95.5 million over a period of years to settle whistleblower lawsuits.
Zoeller opposes robocalling by student-loan debt collectors
Indiana Attorney General Greg Zoeller is urging Indiana members of Congress to work to restore a longstanding prohibition on student loan debt collectors from using robocalls to cellphones.
Supreme Court could weigh in on student debt battle
The lawsuit asks the court to clarify 1970s-era rules that prevent borrowers from getting rid of education debt in bankruptcy, except in cases in which repaying it would constitute an “undue hardship.”
Student-loan giant USA Funds overhauls mission
USA Funds’ business is dying. But the Fishers-based not-for-profit with nearly $600 million in annual revenue is determined to find new life helping students pay for college degrees.
Purdue seeks partner for financial aid alternative
Under the plan, a student draws from an investment pool to get money to pay for tuition and agrees to repay with a portion of the student's future income over a fixed period of time.
Taxpayers could lose billions as U.S. students escape loans
The unwinding of for-profit education companies could allow tens of thousands of students to walk away from their federal loan obligations.
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.
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.
Bill would educate students about their college loans
Students using loans to pay for college might get some extra help when it comes to gathering information about their debt load if an Indiana House bill becomes law.
Indiana’s college graduate’s average debt: $28K
That per-student figure was the 16th highest among the 50 states, according to The Project on Student Debt report put out by The Institute for College Access & Success.
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.
Sallie Mae spinoff Navient tries not to shrink
Navient Corp., which employs 2,300 in its Fishers, Indianapolis and Muncie offices, is in the running for a big contract with the U.S. Department of Education even as the student-loan-servicing company faces criticism after admitting it overcharged military service members by millions of dollars.
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.
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.
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.
ITT student-loan bet stings Lilly’s credit union
A default-prone portfolio of loans to ITT Educational Services students has come back to haunt Eli Lilly Federal Credit Union, a full-service but otherwise conservative institution.
U.S. student-loan debt adds to growing wealth gap
Roughly 37 million people in the U.S. are saddled with $1 trillion in student debt, a factor contributing to the widening of the gap between rich and everyone else in the country.