CARMEL, Ind. — The for-profit college chain ITT Educational Services has stopped enrolling new students.

ITT announced the move on Monday on its website. It is step beyond the ban announced last week by the U.S. Department of Education that banned the Carmel-based company from enrolling new students who use federal financial aid.

ITT spokeswoman Nicole Elam said in an email the company has “voluntarily suspended new student enrollment as we assess our options.”

The chain has been the subject of state and federal investigations focusing on its recruiting and accounting practices. ITT has been ordered to pay $152 million to the Department of Education within 30 days to cover student refunds and other liabilities in case the company closes. It is still paying another $44 million demanded by the department in June.

Information from: The Indianapolis Star,