The University of Idaho and the University of Phoenix have announced a plan, pending 'proper approvals,' for the public university to purchase the private for-profit university for $550 million, according to the Idaho's institution's website.
"proper approvals," for the public university to purchase the private for-profit university for $550 million, according to the Idaho's institution's website.Initially, University of Phoenix would operate separately in a 501 organization affiliated with the University of Idaho. University of Phoenix would remain an independent educational institution operated by its own president and leadership team, the website states.
The not-for-profit corporation will acquire all the assets of University of Phoenix, "including a high-capacity, well-developed digital education platform and a few remaining leases for physical locations. A few of University of Phoenix's campuses remain open but are expected to migrate to a fully online modality," the website states.
Presently, the university primarily delivers online education to some 85,000 students at all levels, microcredentials, certificates, associate degrees, bachelor's, master's and doctoral degrees. University of Arizona affiliated with Ashford University, formerly a for-profit institution now known as University of Arizona Global Campus.
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