VA unable to reinstate GI Bill benefits for ITT students
Indiana Gov. Mike Pence wants the U.S. Department of Veterans Affairs to reinstate GI Benefits for students who enrolled in ITT Technical Institute, but that may not be legally possible.
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What’s next for ITT students and their half-billion dollars in debt?
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.
ITT Educational employees file lawsuit over sudden terminations
Two employees who were terminated Tuesday as part of mass layoff by ITT Educational Services have filed a lawsuit claiming the Carmel-based firm violated federal law by failing to provide 60-days notice. The suit seeks class-action status for as many as 8,000 employees.
ITT Tech won’t say whether it will file for bankruptcy protection
The company will begin the process of liquidating, which will include selling off its Carmel headquarters and other real estate.
ITT shares plunge 64 percent in wake of federal mandates
Shares in ITT Educational Services Inc. went into a freefall Friday, one day after the U.S. Department of Education banned the company from enrolling new students who receive federal aid. Analysts said ITT isn’t likely to survive the decision.
UPDATE: Feds ban ITT Educational from enrolling students on federal aid
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.
Group delays decision on ITT Educational’s accreditation
Carmel-based for-profit college operator ITT Educational Services Inc. has received a brief reprieve from its accreditor, which has delayed making a decision that could potentially devastate the embattled company.
FOCUS: More kids take vocational classes but challenges remain
In the school year that ended in May, nearly 175,000 students were enrolled in more than 235,000 career and technical classes. That’s an 11 percent increase since the 2012-2013 school year, when Gov. Mike Pence challenged schools to serve students going to work as well as students going to college.
Embattled ITT winds down nursing program at 3 Indiana campuses
The state warned the institution about low passing rates earlier this year and asked for a “plan of correction”—the first step that could lead to a loss of state accreditation.
ITT Educational terminates chief legal officer
ITT Educational Services, the embattled Carmel-based operator of for-profit colleges, has fired its chief administrative and legal officer after less than two years on the job.
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.
ITT shares sink after feds order educator to bolster finances
The Department of Education on Monday sent a letter to CEO Kevin Modany, asking the school to show that it has more than $123.6 million available to refund students in the event ITT shuts down unexpectedly.
Shrinking enrollment hurts ITT Educational results
Carmel-based ITT Educational Services Inc. on Friday reported a smaller quarterly profit and shrinking revenue amid dwindling student enrollment at its ITT Technical Institute campuses.
Why violence, segregation and single parenthood are depressing Indianapolis incomes
Jim Streitelmeier, the pastor of Neighborhood Fellowship, has a specific year when he thinks Indianapolis’ social problems really took off:1973. That’s when Indianapolis Public Schools began busing black students to predominantly white schools in order to, at long last, integrate them. And it’s also the year Indiana passed a no-fault divorce law.
Papa John’s CEO helps fund BSU entrepreneurship institute
Ball State University alumnus John Schnatter and the Charles Koch Foundation are partnering on a $3.25 million grant to establish the center, to be named after the pizza chain founder.
Purdue nears deal for income-sharing pilot program
The Purdue Research Foundation and a partner firm are planning a pilot program with 100 to 300 students, who could get tuition funding in exchange for a cut of their future incomes.
Feds hit ITT Educational with more restrictions
The Obama administration on Monday placed additional restrictions on how ITT Educational Services Inc. uses federal student loans, moving the Carmel-based operator of for-profit colleges one step closer to losing access to federal funds.
ITT’s CEO staying, CFO leaving after disappointing quarter
Kevin Modany will continue to lead the Carmel-based for-profit educator until the year’s end. But Chief Financial Officer Dan Fitzpatrick is expected to be replaced within days.
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.
New York lawsuit targets local test-preparation company
New York's attorney general has filed a lawsuit against an Indianapolis-based seller of online nursing studies, alleging it deceptively induced up to 2,000 New Yorkers to sign up in hopes of obtaining an associate's degree in nursing.