UA System-affiliated nonprofit looking at possible purchase of University of Phoenix
January 24, 2023
A nonprofit entity affiliated with the University of Arkansas System has been in discussions about a potential purchase of the for-profit University of Phoenix, a spokesman for the UA System confirmed today.
The University of Phoenix is one of the nation’s largest for-profit colleges.
“Because these conversations are ongoing, we are unable to provide much detail,” UA System spokesman Nate Hinkel told the Arkansas Times. “However, I do want to confirm that the UA System itself would not be acquiring the University of Phoenix and no public or university funds would be involved in this potential transaction. The contemplated structure would also not include any remaining private ownership of the nonprofit entity or the University of Phoenix.”
A source commenting on condition of anonymity said one cost estimate we’d been told — $500 million to $700 million — was probably about right.