SEC charges ITT and top two executives with fraud, alleging they misled investors about huge losses in lending programs. Embattled company asks regulators not to run with fraud allegations until the court rules on them.
For-Profit Higher Ed
Two major for-profits announce campus closures and sell-offs as the industry continues a long slide caused by regulatory crackdowns, competition and bad publicity.
As Corinthian files for bankruptcy, Education Department officials race to head off the political firestorm over debt forgiveness sparked by unprecedented collapse of the for-profit college.
Kaplan University creates new "competency reports" for all 45,000 students, a move that adds momentum, and risks, for competency-based education's spread.
A federal appeals court orders for-profit Heritage College to answer charges it violated federal law by altering records for federal aid -- overturning lower court dismissal.
Education Department and community colleges try to help Corinthian students transfer, but Senate Democrats and consumer groups complain about for-profits as a transfer option.
The implosion of Corinthian Colleges came to an end Monday as the for-profit chain closed its doors for good -- but the political fallout for the Education Department remains.
Education Department turns up heat on for-profits with job-placement-rate scrutiny, three months before gainful-employment rules kick in. But lack of federal standards for placement rates causes confusion.
Education Department fines Corinthian Colleges $30 million for misleading students and orders its Heald College campuses to stop enrolling students and wind down operations.