Birmingham, Alabama-based Education Corp. of America said it was closing campuses in more than 70 locations in 21 states.
The college will aim to attract students by offering small class sizes and the opportunity to work part-time while attending school at employers who are working in partnership with Marian.
Parent organization Dream Center Education Holdings said it has been “undergoing an ongoing process of evaluating the viability of certain campus-based programs.”
Indiana higher education officials are aware that the owner of The Art Institute of Indianapolis “may close Art Institute campuses in multiple states.” They are monitoring the situation.
The lawsuit alleges that ITT Educational’s bankruptcy and the closure of its 130-school chain could have been avoided or minimized if the board of directors had fulfilled its duties instead of focusing on keeping former CEO Kevin Modany happy.
Indiana officials are also trying to advance “reverse transfer” policies statewide as a tool to increase Indiana’s college attainment rate.
Observers say the deal is unprecedented for a public research university and leaves unanswered questions about how others in the sector will respond.
Purdue’s acquisition of Kaplan includes 15 campuses, 32,000 students and 3,000 employees. All Kaplan University students and faculty will transition to the new university, which will use the Purdue name.
The Catholic institution in Rensselaer had been operating on an annual deficit of $4 million to $5 million year after year and has exhausted all its credit.
Hundreds of for-profit colleges could close, leaving up to 600,000 students scrambling to find other schools, after the Education Department withdrew recognition of the nation's largest accreditor of for-profit schools.
Six of Indiana’s U.S. representatives filed legislation Tuesday to help veterans regain their GI Bill education benefits after the closure of ITT Technical Institute.
The company will begin the process of liquidating, which will include selling off its Carmel headquarters and other real estate.
Carmel-based ITT Educational Services Inc. announced Tuesday morning that it will permanently “discontinue academic operations” at all ITT Technical Institutes campuses. The company blamed the closure on “inappropriate and unconstitutional” federal sanctions.
Carmel-based for-profit college operator ITT Educational Services Inc. has received a brief reprieve from its accreditor, which has delayed making a decision that could potentially devastate the embattled company.
Financial aid and class credits for as much as 8 percent of Indiana’s college students could be at risk as federal officials work to close down a national accreditor of for-profit schools.
The for-profit educator has struggled with demand at 22 of its 26 locations nationwide. The college also just emerged from deep legal trouble as the result of its recruiting practices.
The Higher Learning Commission said in a decision released this week that Martin University in Indianapolis “remains in a financially precarious position.” The university was put on probation in February 2014.
Only 2.6 percent of Martin University's full-time students graduated within four years and its six-year completion rate of 14.3 percent "was also extremely low," the North Central Association's Higher Learning Commission said.