ITT Announces Tuition Freeze

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Carmel-based ITT Educational Services Inc. (NYSE: ESI) says it will freeze tuition rates for new students beginning with the December quarter. The for-profit education provider says tuition will remain constant for those students as long as they are continuously enrolled.

Carmel, Ind. -- ITT Educational Services, Inc. (NYSE: ESI) today announced it will freeze tuition rates for new students beginning with those enrolling in the December 2014 quarter. As part of this initiative, the tuition rate for students is guaranteed to never increase as long as they remain continuously enrolled.

"We are excited to provide this benefit to new students," said Gene Feichtner, President and Chief Operating Officer, ITT Educational Services, Inc. "This tuition rate freeze, combined with our scholarship programs, will further increase the affordability of degree programs at the ITT Technical Institutes and create opportunities for those who otherwise may not have the chance to further their education," Feichtner said.

This tuition rate freeze is part of an affordability campaign that the ITT Technical Institutes has initiated to reduce the cost of degree programs for students and increase their access to quality career-based education. Examples of ITT Tech’s ongoing affordability initiatives include:

• ITT Tech has reduced the cost of the vast majority of programs in recent years.

• In 2013, more than $170 million in scholarships were awarded, which further lowered program cost for approximately 65% of ITT Tech students nationwide.

• In 2014, ITT Tech expects to award approximately $240 million to qualified students.

• ITT Tech has lowered the average debt of a graduate who earned an associate degree by approximately 28% in recent years.

• ITT Tech has reduced cohort default rates by nearly 11% in recent years.

"We have become more affordable for our students, while the cost of attending some traditional schools continues to rise," Feichtner said.

About ITT Educational Services, Inc.

ITT Educational Services, Inc. (NYSE: ESI) provides accredited, technology-oriented undergraduate and graduate degree programs through its ITT Technical Institutes and Daniel Webster College to help students develop skills and knowledge that they can use to pursue career opportunities in a variety of fields. It owns and operates more than 135 ITT Technical Institutes and Daniel Webster College. ITT/ESI serves approximately 55,000 students at its campuses in 39 states and online. Through the Center for Professional Development @ ITT Technical Institute, ITT/ESI provides short-term information technology and business learning solutions for career advancers and other professionals. Headquartered in Carmel, IN, ITT/ESI has been actively involved in the higher education community since 1969 and can be found online at www.ittesi.com.

Source: ITT Educational Services Inc.