![]() ![]() We expect that amount will grow over time.” Now the University of Idaho is claiming, “The initial benefit is $10 million in supplemental education funding to U of I. The president of the University of Arkansas System told his trustees and the public that acquiring Phoenix would generate $20 million in annual revenue for the state’s universities. So, I guess, nuances that the U of I community wouldn’t understand. Why are U of I employees and student just now learning about this?īecause of the sensitive nature of such a transaction, a very limited number of members of U of I leadership, supported by outside advisors who specialize in the nuances of such acquisitions, worked on the transaction pursuant to a seller-required non-disclosure agreement. On its new new FAQ page, the school explains why it never told the school community about the negotiations for a deal that it now says needs to be approved in the next two days: This money is separate from any U of I budgets or funding lines.” Apollo is also, according to U of I, “providing $200 million in cash that will transfer to the not-for-profit corporation.”Īccording to the board, “After regulatory and accreditation approvals are attained, University of Phoenix will move from a for-profit institution to a public non-for-profit institution.” Idaho says the new deal will “be financed through non-taxable and taxable bonds. The school’s current owner is private equity giant Apollo Global Management, which paid $1.1 billion to acquire it in 2017. The University of Idaho says its aim is “increasing access to all learners, improving capacity for supporting all learners and helping all learners achieve their higher education goals.” So this afternoon, the University of Idaho announced that it will acquire the University of Phoenix. ![]() ![]() Complaint procedures can be found HERE.The University of Arkansas System Board of Trustees last month voted its disapproval of a plan by the institution’s president to acquire the troubled for-profit giant University of Phoenix, with several trustees expressing concerns, including about the structure of the deal, and one trustee declaring that Phoenix “has a terrible reputation.” Two weeks ago, six United States senators wrote to four federal agencies asking them to investigate ongoing deceptive practices at Phoenix, citing a report on this website, and declaring that “Phoenix is an unscrupulous and predatory for-profit college that has long preyed on veterans, low-income students, and students of color.” See the Accreditation & Licensure section for information on the agencies that approve and regulate the school's programs. Department of Defense (DOD) visual information does not imply or constitute DOD endorsement. Financial aid is available for those who qualify. Programs vary by location and modality see University Catalog for details. AIU does not accept applications from residents of Massachusetts, New York and certain foreign countries. Not all programs are available to residents of all states. AIU cannot guarantee employment, salary, or career advancement. The AIU logo is a registered trademark of Perdoceo Education Corporation. No information may be duplicated without AIU's permission. ©2023 American InterContinental University | AIU is a member of the American InterContinental University SystemĪll rights reserved. ![]()
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