I would be surprised if they cannot do exactly the same thing. The problem ITT Educational Services, Inc. currently faces is the sanctions imposed on them. A new company won't be under the same sanctions. It takes time to build up enough history to be sanctioned by DOE. Playing whack-a-mole with unethical corporate entities is a long-held tradition in the US. This is because we consistently fail to hold corporate officers accountable for their actions.
I would love to be wrong about this.