![]() More than 40 others are under the control of a court-appointed receiver who has accused school officials of trying to keep the doors open by taking millions of dollars earmarked for students. Fourteen campuses, mostly Art Institute locations, have a new owner after a hastily arranged transfer involving private equity executives. The affected schools - Argosy University, South University and the Art Institutes - have about 26,000 students in programs spanning associate degrees in dental hygiene and doctoral programs in law and psychology. ![]() More than a dozen others have been sold in the hope they can survive. What they didn’t foresee was just how quickly and catastrophically it would fail.īarely a year after the takeover, dozens of Dream Center campuses are nearly out of money and may close as soon as Friday. When the Education Department approved a proposal by Dream Center, a Christian nonprofit with no experience in higher education, to buy a troubled chain of for-profit colleges, skeptics warned that the charity was unlikely to pull off the turnaround it promised.
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