Financial Fragility Heralds Major Divide in For-Profit Higher Education

For-profit higher education is hardly monolithic. True, most of the sector has been hit by enrollment declines. And nearly all of the publicly traded companies, except the American Public University System, Capella Education, Strayer Education, and National American University, are facing scrutiny from federal agencies or a state attorney general or both.

But with the announcement this week that the chief executive of ITT Educational Services