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| July 19, 2018

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Defunct for-profit college firm ITT’s former executives settle fraud charges

July 11, 2018 |

Former top executives at ITT Educational Services, the parent company of defunct ITT Technical Institute, have settled fraud charges with the Securities and Exchange Commission, avoiding a trial that was slated to begin Monday.

A judgment order entered Friday puts to rest civil fraud charges filed…


L.A. Times – Business

For-profit DeVry University is getting a new owner: a Silicon Valley company

December 6, 2017 |

DeVry University, one of the nation’s largest remaining for-profit college chains, is getting a new owner.

The chain’s parent company, Illinois-based Adtalem Global Education Inc., plans to transfer ownership of DeVry University and its Keller Graduate School of Management to Silicon Valley-based…


L.A. Times – Business

Almost all student loan fraud claims involve for-profit colleges, study finds

November 9, 2017 |

Students who attended for-profit colleges filed more than 98% of the requests for student loan forgiveness alleging fraud by their schools, according to an analysis of Education Department data published Thursday.

The study by the Century Foundation represents the most thorough analysis to date…


L.A. Times – Business

SEC settles fraud charges against defunct for-profit college company ITT

July 5, 2017 |

The Securities and Exchange Commission has settled its fraud case against ITT Educational Services, but it continues to pursue top executives from the defunct for-profit college firm for deceiving investors about high rates of late payments and defaults on student loans backed by the firm.

A final…


L.A. Times – Business

Education Secretary Betsy DeVos suspends rules that cracked down on for-profit college abuses

June 16, 2017 |

As Corinthian Colleges Inc., ITT Technical Institute and other for-profit schools collapsed in recent years, the Obama administration overhauled regulations to make it easier to forgive loans for stranded students and to try to prevent future abuses.

Now, the Trump administration is suspending…


L.A. Times – Business

Immigration detainees should be held in for-profit prisons, panel says

December 2, 2016 |

Immigration authorities should continue holding people accused of immigration violations in for-profit prisons despite complaints about safety and other problems, a Department of Homeland Security review panel has concluded after examining the issue.

Privately run detention facilities have long…


L.A. Times – Business

Enrollment is tanking at the University of Phoenix, DeVry and other for-profit colleges

September 23, 2016 |

Some of the nation’s largest for-profit colleges are suffering steep declines in enrollment amid growing competition, new regulation and government pressure that led to the recent collapse of one of the industry’s biggest players, ITT Technical Institute.

The industry has been losing students for…


L.A. Times – Business

For-Profit College ITT Shuts Down After Loan Crackdown

September 7, 2016 |

ITT Technical Institute ceased operations at more than 130 campuses nationwide and eliminated most of its 8,000-plus employees after losing access to the lifeblood of federal student aid.
WSJ.com: US Business

Rule would ease loan debt relief to students at rogue for-profit schools

June 13, 2016 |

The Obama administration is trying to make it easier for students who have been misled or defrauded by their colleges to have their loans forgiven.

A rule proposed Monday would lay out a clear relief process for borrowers who believe they were lied to about job prospects after college or otherwise…


L.A. Times – Business

Is Corinthian typical of the for-profit college industry?

April 28, 2015 |

Corinthian Colleges Inc. was once one of the nation’s largest for-profit college chains, enrolling tens of thousands of students in career programs as the recession displaced millions of workers.
L.A. Times – Business