Exhibit 11

ITT EDUCATIONAL SERVICES, INC.
COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE
(In thousands, except per share data)

		Three Months Ended March 31,
		2001	2000
Net income		$4,788	$1,205
Shares:
	Weighted average number of shares of common stock outstanding	23,546	24,506
	Shares assumed issued (less shares assumed purchased for treasury) on stock options	421	81
	Outstanding shares for diluted earnings per share calculation	23,967	24,587
Earnings per common share:
	Basic	$0.20	$0.05
	Diluted	$0.20	$0.05