May 14, 2004
For-Profit Colleges Face New Scrutiny
Raid by federal agents arouses anxiety for darlings of Wall StreetChart: How Government Money Bolsters For-Profit Colleges' Balance SheetsBy GOLDIE BLUMENSTYK
In the two months since federal agents brandishing search warrants and grand-jury subpoenas swarmed ITT Educational Services' Indianapolis headquarters and 10 of its campuses, anxieties have been running high in for-profit higher education.
The brashness and scope of the raid came as a shock to many in the industry,
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