What the potential acquisition of University of Phoenix says about the for-profit sector
January 26, 2023
Executives may want to flee a sector with tight rules and a poor reputation at the same time nonprofits are looking to build their online offerings, experts said.
The University of Arkansas System confirmed this week that officials are in talks about potentially acquiring the University of Phoenix, making it the latest example of a public institution considering buying an online for-profit college to expand its reach.
A nonprofit entity affiliated with the system has been in discussions with University of Phoenix about potentially purchasing the institution and transforming it into an independent nonprofit, according to Nathan Hinkel, a system spokesperson. Under the structure being considered, there would be no ongoing relationship with the current owners of the university.