Dive Brief:
- With 61,000 students in 39 states and online, ITT is among the largest for-profit educators under scrutiny by the government.
- The company disclosed in a filing late last year that the Consumer Financial Protection Bureau might go after it over possible student loan violations.
- Access to government money is crucial for for-profit education companies such as ITT; in 2012, about 80% of its revenue came from government programs.
Dive Insight:
It's not just the Consumer Financial Protection Bureau that is interested in ITT. The company has received subpoenas from the SEC regarding a program that raised more than $300 million from investors. The program was a novel way to generate loan money for students.
