ITT Technical Institute
||The lead section of this article may need to be rewritten. (March 2014)|
|ITT Technical Institute|
|Motto||Education for the Future|
|Type||For-Profit (NYSE: ESI)|
|President||Eugene W. Feichtner|
|Location||Carmel, Indiana, United States|
|Campus Locations||3 in Alabama; 4 in Arizona; 1 in Arkansas; 15 in California; 2 in Colorado; 12 in Florida; 4 in Georgia; 1 in Idaho; 4 in Illinois; 6 in Indiana; 2 in Iowa; 2 in Kansas; 2 in Kentucky; 2 in Louisiana; 2 in Maryland; 2 in Massachusetts; 8 in Michigan; 3 in Minnesota; 1 in Mississippi; 4 in Missouri; 1 in Nebraska; 2 in Nevada; 1 in New Jersey; 1 in New Mexico; 3 in New York; 5 in North Carolina; 10 in Ohio; 2 in Oklahoma; 2 in Oregon; 7 in Pennsylvania; 4 in South Carolina; 5 in Tennessee; 10 in Texas; 1 in Utah; 6 in Virginia; 3 in Washington; 1 in West Virginia; 4 in Wisconsin|
|Affiliations||ITT Educational Services, Inc. (1994-2014)
ITT Corporation (1965-1994)
ITT Technical Institute (often shortened to ITT Tech or ITTTI), is a for-profit technical institute with over 130 campuses in 38 states of the United States. ITT Tech is owned and operated by ITT Educational Services, Inc. (NYSE: ESI), a publicly traded company headquartered in Carmel, Indiana.
Students and employees have written critically about the school's high tuition and low academic standards. ITT Technical Institute charges among the highest tuition in the industry. It also has the industry's highest rate of loans that go into default within two years of attendance. In 2014, the tuition for attending an ITT Tech campus ranged from $45,000 to $85,000.  According to ITT Tech literature, credits earned at ITT Tech are unlikely to transfer to other colleges 
On February 26, 2014, the CFPB sued ITT alleging they used high-pressure tactics to coerce students into high-interest private loans that were likely to end in default. ESI is also being investigated by at least a dozen state Attorneys General. 
ITT Tech was founded in 1946 as Educational Services, Inc. and has been headquartered in Carmel, Indiana, since 1969. From 1965 until its IPO in 1994, ITT Tech was a wholly owned subsidiary of ITT Corporation (as "ITT/ESI"). By 1999, ITT Corp. (which had merged with Starwood Hotels & Resorts Worldwide the year before) divested itself completely of ITT Tech's shares but the schools still use the "ITT" name under license. It operates over 145 ITT Technical Institutes in 38 states, which primarily provide career-focused degree programs to approximately 60,000 students.
In August 2014, the US Department of Education placed ESI under "heightened cash monitoring" failing to submit financials and compliance audits tied to its administration of federal financial aid. CEO Kevin Modany also announced his resignation.
ITT Tech offers AAS, bachelor's BAS, and master's (business-only, online) degrees. ITT Tech is nationally accredited by the Accrediting Council for Independent Colleges and Schools. It may be impossible to transfer credits from ITT to a traditional university; per the ITT Web site, "it is unlikely that any credits earned at an ITT Technical Institute will be transferable to or accepted by any institution other than an ITT Technical Institute."
ITT's brick-and-mortar offerings include multiple locations in 35 states.
Investigations, Lawsuits, and Controversies
- In August 1998, 15 former students alleged misrepresentation, fraud and concealment by ITT arising out of their recruitment and education at ITT campuses. In September 1998, ITT settled all of the claims.
- On February 25, 2004, federal agents raided the company's headquarters and ten of its campuses. The investigation negatively affected the company's stock and triggered several class action lawsuits by investors.
- In October 2005, ITT agreed to pay $730,000 to settle a lawsuit with California in which employees alleged that it inflated students' grade point averages so they qualified for more financial aid from the State of California.
- An investigation by WGBA-TV (NBC26, Green Bay, Wisconsin) found evidence of widespread grade inflation. In one instance, a student got 100% on a computer forensics assignment by emailing the professor a noodle recipe. The station believes this to be a way to increase federal student aid funding.
- In early March 2011 WTMJ-TV (NBC4, Milwaukee, Wisconsin) ran an investigation finding teachers lying on attendance records so they could get cash bonuses paid by ITT Tech. ITT Tech formerly used an attendance policy as part of a requirement to get financial aid to show student progress.
- In 2012, ITT Tech was one of the for-profit colleges investigated by the Harkin Commission.
- Students continue to allege that private loans with JP Morgan Chase and other banks are predatory. 
- "Corporate Governance - Management & Directors". ITT Education Services. Retrieved 2010-04-16.
- "Eugene Feichtner: Executive Profile & Biography". BusinessWeek. Retrieved 2010-04-16.
- "ITT Tech Campusus". ITT Tech. Retrieved 20 June 2012.
- ITT Educational Services, Inc. Announces the Opening of its First College in West Virginia Expanding the Company's Reach into 37 States MarketWatch, November 14, 2008
- "FAQ." ITT Technical Institute. Retrieved on November 23, 2011. "Our principal executive offices are located at: ITT Educational Services, Inc. 13000 North Meridian Street, Carmel, Indiana 46032"
- "MyITTexperience". MyITTexperience. Retrieved 2014-02-27.
- "Clever Is as Clever Does", Barron's, Saturday, April 14, 2012
- Lopez, Ricardo. "Regulator accuses ITT for-profit college chain of predatory lending". latimes.com. Retrieved 2014-02-27.
- "U.S. sues college chain ITT over loans". USA Today. February 26, 2014. Retrieved February 27, 2014.
- ITT Technical Institute FAQ
- ITT Educational Services, Inc · 424B4 · On 1/27/99
- Feds serve warrants at ITT Tech campuses, CNN
- Federal Probe Targets ITT Tech, CertCities March 2, 2004
- ITT's CEO Expects Lengthy Federal Investigation, Stock Slips, Channel Web Network, Feb. 26, 2004, Mark Jewell
- ITT, Calif. Settle False Claims Lawsuit, Inside Higher Education, Oct. 18, 2005, Doug Lederman
- Diamant, Aaron. "I-Team: Easy A's". WGBA-TV. Archived from the original on 2011-02-18. Retrieved 2014-11-02.
- I-Team: Teachers Told to Lie?, WTMJ-TV, Accessed 3/3/11