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                                                                    EXHIBIT 23.1
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
     We hereby consent to the use in the Prospectus constituting part of this
Registration Statement on Form S-3 of our report dated January 10, 1998 related
to the financial statements of ITT Educational Services, Inc. for the year ended
December 31, 1997. We also consent to the incorporation by reference in the
Prospectus constituting part of this Registration Statement on Form S-3 of our
report dated January 10, 1998 appearing on page F-1 of ITT Educational Services,
Inc. Annual Report on Form 10-K for the year ended December 31, 1997. We also
consent to the references to us under the headings "Experts" and "Selected
Financial Data" in such Prospectus. However, it should be noted that Price
Waterhouse LLP has not prepared or certified such "Selected Financial Data."
 
PRICE WATERHOUSE LLP
Indianapolis, Indiana
February 13, 1998