Articles

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ITT is gone, but challenges facing for-profit schools live on

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.

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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.

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ITT Educational Services headquarters

ITT Tech to cease operations, cut nearly 8,000 employees

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.

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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.

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