FORM 3



(Print or Type Responses)		   UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF
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(f) of the Investment Company Act of 1940		  
OMB APPROVAL
OMB Number:        3235-0104
Expires: January 31, 2005
Estimated average burden hours per response .... 0.5
1.   Name and Address of Reporting Person*   2.   Date of Event Requiring Statement
(Month/Day/Year)		   4.   Issuer Name and Ticker or Trading Symbol
    MODANY   KEVIN   M.       July 16, 2002       ITT Educational Services, Inc.        ESI        
 
 
    (Last)   (First)   (Middle)   3.   IRS Identification Number of Reporting Person, if an entity (voluntary)   5.   Relationship of Reporting Person(s) to Issuer (Check all applicable)   6.   If Amendment, Date of Original
(Month/Day/Year)
                             Director            10% Owner        
5975 Castle Creek Parkway, N. Dr.
(Street)		  
  X Officer (give title below)            Other
              (specify below)		  
                                    7.   Individual or Joint/Group Filing
Indianapolis   IN   46250           Senior Vice President        
         
      (Check Applicable Line)
    (City)   (State)   (Zip)                               X     Form filed by One Reporting Person
               Form filed by More than One Reporting Person

Table I — Non-Derivative Securities Beneficially Owned

1.   Title of Security
(Instr. 4)		   2.   Amount of Securities
Beneficially Owned
(Instr. 4)		   3.   Ownership Form:
Direct (D) or Indirect (I)
(Instr. 5)		   4.   Nature of Indirect
Beneficial Ownership
(Instr. 5)
                             
    Common Stock       0 shares                
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             
                             

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).

(Over)
SEC 1473 (02-02)

POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.

FORM 3 (Continued)   Table II — Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
    
1.   Title of Derivative Security
(Instr. 4)		   2.   Date Exercisable and Expiration Date
(Month/Day/Year)		   3.   Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		   4.   Conversion or Exercise Price of Derivative Security   5.   Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		   6.   Nature of Indirect Beneficial Ownership
(Instr. 5)
                                 
       
                       
            Date
Exercisable		   Expiration
Date		       Title   Amount or Number of Shares                        
                                                     
Employee Stock Option (Right to Buy) (1)       (2)   6/26/12       Common Stock   30,000       $23.41       D        
                                                     
                                                     
                                                     
                                                     
                                                     
                                                     
                                                     
                                                     
                                                     
                                                     
                                                     

Explanation of Responses:

(1)
Option awarded under the 1997 ITT Educational Services, Inc. Incentive Stock Plan, a Rule 16b-3 plan.

(2)
The option becomes exerciseable in three equal annual installments beginning on June 24, 2003.

/s/ Kevin M. Modany   July 16, 2002
**Signature of Reporting Person		  
Date

**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Page 2
SEC 1473 (02-02)