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ITT Educational Services, Inc.

Type	Public (NYSE: ESI)
Founded	1946
Headquarters	Carmel, IN, USA
Website	www.ittesi.com

ITT Technical Institute (often shortened to ITT Tech) is a private, for-profit, technical institute with 105 campuses in 37 states of the United States.^[1] It was founded in 1946 as Educational Services, Inc. and has been headquartered in Carmel, Indiana, since 1969. ITT Tech is owned and operated by ITT Educational Services Inc. (NYSE: ESI), a publicly traded company. ITT Educational Services, Inc. (ESI) was spun off by ITT(formerly known as International Telephone & Telegraph) Corporation through an IPO in 1994, with parent company ITT as an 83% shareholder.^[2]

[edit] Accreditation

ITT Tech is nationally accredited by the Accrediting Council for Independent Colleges and Schools.^[3].

[edit] Courses of study

ITT Tech offers programs specialized in Information Technology, Computer Electronics, drafting and Design, Criminal Justice, Health Sciences, and Business Administration.

Students of ITT Tech may pursue Associate's degree AAS, bachelor's BS (all but health), or master's (business-only, online) degrees. Graduates might be specialized in architectural design, civil and mechanical drafting, visual communications, graphic design and animation, programming and networking, computer engineering, electronics and information technology.

Online programs are also available.

[edit] ITT, the business

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 the year before) divested itself completely of ITT Tech's shares but the schools still use the "ITT" name under license.^[4]

[edit] Controversy

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 of the 15 claimants. ^[5]

On February 25, 2004, federal agents raided the company's headquarters and 10 of its campuses.^[6] The investigation negatively affected the company's stock and triggered several class action lawsuits by investors.^[7][8]

In October 2005, ITT agreed to pay $725,000 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. The settlement covered the state's portion of the 2002 federal claims lawsuit.^[9]

[edit] Campus locations