Education

The U. of Idaho moved fast to acquire the U. of Phoenix. Now what?

The Chronicle of Higher Education: “Under the deal, which still faces review by accreditors, the University of Phoenix will be converted to a nonprofit institution that Idaho officials referred to as ‘New U.’ … The $550-million purchase price breaks down this way: The University of Phoenix will contribute $200 million to the new college, and the new institution will finance the remaining $350 million with bonds. Brian Foisy, the University of Idaho’s vice president for finance, told the State Board of Education that the university’s credit rating might drop from A1 to A2 as a result of the purchase, although he added ‘that’s only one notch,’ and the lowered rating ‘is still well within investment grade.’”

View the full article from The Chronicle of Higher Education. [Subscription required.]