Shares of Career Education ( CECO) jumped Monday after the government lifted restrictions on the education provider's ability to acquire or open new schools.

The Department of Education imposed the restrictions in June 2005 amid a review into Career Education's financial statements and certain programs.

In August, the DOE approved Career Education's applications for new campus locations in Sacramento, Calif., and San Antonio. Those campuses are scheduled to open in late spring.

"We will be carefully and selectively evaluating other expansion opportunities and look forward to pursuing those opportunities in cooperation with the Department," said interim Chairman and CEO Robert Dowdell.

Shares of Career Education recently were trading up $1.82, or 7.2%, to $27.22, on nearly triple their average daily volume.