DeVry buys Ross University

There's a story in today's Chronicle of Higher Education stating that DeVry has purchased St. Kitts-based Ross University for $310 million.

Story is in the subscribers' section, I believe:
http://chronicle.com/daily/2003/03/2003032105n.htm

There was one tidbit I found particularly interesting:

"Although Ross operates offshore, its students are eligible for U.S. federal student loans, because it was grandfathered into the programs in 1992. About 70 percent of them receive such aid, DeVry officials said."

 

According to the article, DeVry intends to leverage Ross' medical school to deliver continuing education to medical professionals via distance learning. Sounds smart to me.