For-Profit Colleges Face New Scrutiny

Raid by federal agents arouses anxiety for darlings of Wall Street

Chart: 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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