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.

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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.

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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.

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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.

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Study: IU, Purdue rank best in return on investment

Big budgets used to rule in college rankings. But that could be changing. A new report from the Indiana Commission for Higher Education is the latest effort among several nationally to score universities on their bang for the buck.

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Debt collectors brawling in court

Todd Wolfe, the 41-year-old founder of Deca Financial Services in Fishers, is at the center of a legal feud with Educational Credit Management Corp., an Oakdale, Minn., not-for-profit that insures $35 billion in federal student loans.

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