They’re looking for a buyer but that’s a tough search in a situation like this.
Inside Higher Ed reports:
Argosy on Brink of Closure
A court-appointed receiver plans to close Argosy University campuses today if a buyer is not found for the for-profit college, a decision driven by the Trump administration’s decision to cut off Title IV student aid to those colleges more than a week ago.
But the receiver has yet to convey those plans officially to the Department of Education and is due to appear Monday before a federal judge in an ongoing legal challenge over his management of the colleges. The murkiness over the campuses’ status entering Friday adds to uncertainty students have faced since Argosy failed to make financial aid payments for the spring semester.
Campus closures would mean students could either opt for loan cancellation or seek to transfer their credits to a different college — a choice that could be more difficult without an official agreement in place between Argosy and another institution.
Lawyers for Mark Dottore, the receiver, said in court filings this week that he had worked “around the clock” since the department cut off federal aid to find potential buyers to take on those campuses. Dottore has had discussions with 15 potential buyers for various campuses held by Dream Center Education Holdings, the Argosy parent company, according to the court filings. But some observers said the prospects of a deal happening before the colleges run out of money appeared dim.
“On this kind of time frame, I think that’s highly unlikely,” said Trace Urdan, a managing director at Tyton Partners, a consulting firm with a focus on the education sector. “I would be shocked if somebody comes along at the 11th hour for this particular asset.”
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