Argosy University and South University to become not-for-profit

Dream Center Foundation | Dream Center


From the press release: "As part of the acquisition, the Dream Center Foundation will be converting the EDMC schools into not-for-profit institutions with the intent of investing a percentage of revenue into humanitarian and charitable programs supported by the Dream Center Foundation in Los Angeles and throughout the United States."

 

Here is better humanitarian option- provide lower tuition. It does not make any sense to overcharged poor students then used a small portion of the profit for so-called charity. It is disingenuous.

 

Sorry if I am skeptical but it looks like the conversion is more of an attempt to increase the profile of the school rather than making an effort to make it non for profit.
A true effort would be to make the school more affordable to students and not just create a charity organization that might be just a way to mask profits by putting them into a charitable institution that might be owned by the same people.

I recalled that Argosy was actually the only school that I know that reduced the salaries of their professors with the excuse that they were overpaying and the new salaries were according to market rates.

Argosy started as the University of Sarasota that was located at a motel in Florida if I recall.

 

I agree with you here. It almost seems as though by acquiring the schools and obtaining nonprofit status that it would be easier to acquire funds that in many cases won't be taxed at normal rates that would then be funneled into the organization's "causes". Interesting little hustle they've got planned!