FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * ELWOOD CLARK D   2. Issuer Name and Ticker or Trading Symbol ITT EDUCATIONAL SERVICES INC [ESI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Sr VP, Gen Counsel & Secretary (Last) (First) (Middle) C/O ITT EDUCATIONAL SERVICES INC, 13000 NORTH MERIDIAN STREET 3. Date of Earliest Transaction (Month/Day/Year) 09/12/2007 (Street) CARMEL, IN 46032-1404 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 09/12/2007   M(1)   3,334 (2) A $ 9.719 (3) 11,638 D   Common Stock 09/12/2007   M(1)   30,000 (4) A $ 17.25 (5) 41,638 D   Common Stock 09/12/2007   M(1)   10,168 (6) A $ 49.74 51,806 D   Common Stock 09/12/2007   S(1)   600 D $ 112.61 51,206 D   Common Stock 09/12/2007   S(1)   2,800 D $ 112.6 48,406 D   Common Stock 09/12/2007   S(1)   400 D $ 112.59 48,006 D   Common Stock 09/12/2007   S(1)   700 D $ 112.56 47,306 D   Common Stock 09/12/2007   S(1)   2,900 D $ 112.55 44,406 D   Common Stock 09/12/2007   S(1)   500 D $ 112.54 43,906 D   Common Stock 09/12/2007   S(1)   2,100 D $ 112.53 41,806 D   Common Stock 09/12/2007   S(1)   1,800 D $ 112.52 40,006 D   Common Stock 09/12/2007   S(1)   2,000 D $ 112.51 38,006 D   Common Stock 09/12/2007   S(1)   6,100 D $ 112.505 31,906 D   Common Stock 09/12/2007   S(1)   23,602 D $ 112.5 8,304 D   Common Stock               6,097 I By Company 401(k) Plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (Right to Buy)

$ 9.719 (3)

09/12/2007

M(1)

3,334 (2)

(7)

01/25/2011

Common Stock

3,334

$ 0

0

D

Stock Option (Right to Buy)

$ 17.25 (5)

09/12/2007

M(1)

30,000 (4)

(8)

01/24/2012

Common Stock

30,000

$ 0

0

D

Stock Option (Right to Buy)

$ 49.74

09/12/2007

M(1)

10,168 (6)

(9)

02/02/2012

Common Stock

10,168

$ 0

9,932

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ELWOOD CLARK D C/O ITT EDUCATIONAL SERVICES INC 13000 NORTH MERIDIAN STREET CARMEL, IN 46032-1404			Sr VP, Gen Counsel & Secretary

Signatures

Clark D. Elwood		09/14/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 18, 2007.
(2)	Represents a portion of the: (a) 20,000 shares subject to a stock option (right to buy) with an effective grant date of January 23, 2001 ("2001 Option"); and (b) the increase of 20,000 shares subject to the 2001 Option pursuant to the 2-for-1 split of the ESI common stock on June 6, 2002 ("June 2002 Split").
(3)	Represents an original exercise price of $19.438 for the shares of ESI common stock subject to the 2001 Option, reduced to $9.719 pursuant to the June 2002 Split.
(4)	Represents the: (a) 15,000 shares subject to a stock option (right to buy) with an effective grant date of January 22, 2002 ("2002 Option"); and (b) the increase of 15,000 shares subject to the 2002 Option pursuant to the June 2002 Split.
(5)	Represents an original exercise price of $34.50 for the shares of ESI common stock subject to the 2002 Option, reduced to $17.25 pursuant to the June 2002 Split.
(6)	Represents a portion of the 20,100 shares subject to a stock option (right to buy) with an effective grant date of February 2, 2005.
(7)	The option vested in three equal installments on January 23, 2002, 2003 and 2004.
(8)	The option vested in three equal installments on January 22, 2003, 2004 and 2005.
(9)	The option vested in one installment on October 24, 2005.

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