ITT Educational Falls After SEC Asks For Loan Documents
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ITT Educational Services Inc., a for-profit college that focuses on technology, fell the most in seven weeks after disclosing that U.S. regulators subpoenaed documents related to private loan programs for its students.
The Securities and Exchange Commission demanded documents relating to “actions and accounting” for the programs, which helped students pay for education costs that weren’t covered by state, federal and other funding sources, Carmel, Indiana-based ITT said Feb. 22 in a filing.