Hundreds of for-profit colleges could close, leaving up to 600,000 students scrambling to find other schools, after the Education Department withdrew recognition of the nation's largest accreditor of for-profit schools.
Indiana State President Dan Bradley said the Terre Haute school plans to target people around the Midwest who have some college credits but haven't earned a degree.
The Carmel-based, for-profit educator began liquidation proceedings Friday after closing 136 technical schools, leaving over 35,000 students stranded in one of the largest college shutdowns in U.S. history.
The Carmel-based for-profit educator, which last week shut down all 136 of its ITT Technical Institute campuses in 38 states, said it will “cease all operations” on Friday.
More than 100 former students of now-closed ITT Technical Institutes announced Wednesday they'll no longer make payments on their federal student loans, part of a revolt against what they call the Obama administration's negligence in policing for-profit colleges.
Six of Indiana’s U.S. representatives filed legislation Tuesday to help veterans regain their GI Bill education benefits after the closure of ITT Technical Institute.
Purdue's announcement comes after Indiana University reported a record mark of some 43,200 students enrolled at its Bloomington campus for the fall semester.
The question that dragged down ITT Educational Services—whether its expensive diplomas were leaving students awash in debt while failing to properly prepare them for gainful employment—will continue to hang over other players in the for-profit education industry.
The closure of ITT’s 136 campuses threatens to throw some 29,000 indebted students off their educational tracks, and to saddle taxpayers with nearly a half-billion dollars in losses.
The company will begin the process of liquidating, which will include selling off its Carmel headquarters and other real estate.
Carmel-based ITT Educational Services Inc. announced Tuesday morning that it will permanently “discontinue academic operations” at all ITT Technical Institutes campuses. The company blamed the closure on “inappropriate and unconstitutional” federal sanctions.
Elsewhere in Indiana, universities are seeing mixed results with their enrollment.
Under CEO Kevin Modany's stewardship over the past decade, ITT Educational Services Inc. has seen its stock market value drop from $2.9 billion to $8 million.
A new partnership between the Purdue Polytechnic Institute and the Lafayette campus of Ivy Tech Community College might help fill the employment pipeline for the $100 million-plus jet engine plant that General Electric recently built in Lafayette.
A University of North Dakota study predicts that annual pilot deficits will escalate over the next decade and will total 15,000 by 2026.
The work is all part of a long-term university plan that includes more than $130 million in new construction.
Enrollment at the newest of Ivy Tech Community College’s 32 campuses is growing, despite falling attendance at some of the college’s other locations.
The decision is a potential death blow to Carmel-based ITT, which derives most of its revenue from federal loans and grants. Its stock was halted Thursday after shares fell 35 percent.
After spending almost 25 years as the front man for Boilermaker sports, Morgan Burke is ready to step down and revel in becoming just another fan.
Data from Indiana University’s enrollment office show that this year’s freshman class might not be the largest, but they could be the smartest.
