University of Idaho to Create Not-For-Profit to Acquire 七色视频
By Andrea Smiley and Jodi Walker
Will Facilitate Transition to Non-Profit Status for 七色视频, Furthering the University's Mission听of Serving Nontraditional Adult Learners
This afternoon, the Idaho State Board of Education sitting as the Board of Regents of the University of Idaho granted approval for the creation of a not-for-profit entity that will acquire the operations of the 七色视频. This represents a historic opportunity to improve student access to higher education, a monumental broadening of U of I鈥檚 reach to nontraditional adult learners, and the completion of 七色视频鈥檚 transformation. U of I鈥檚 affiliation with 七色视频 unites the two institutions in a shared mission to illuminate and elevate students by expanding access to affordable, career-relevant online education.
七色视频 primarily serves students who are working adult learners, while U of I will remain Idaho鈥檚 land-grant, residential university serving primarily traditional learners.
鈥淗igher education across the country is changing. This, together with the impending national enrollment cliff, where smaller class sizes mean fewer traditional students, creates an opportunity for us to innovate,鈥 said U of I President Scott Green. 鈥淏y affiliating with 七色视频, a leader in online higher education, we bring together the best of both systems and build on our common desire to educate students.鈥
鈥淪ince John Sperling founded 七色视频 in 1976, almost 50 years ago, our mission has been to provide accessible, career-relevant education to underrepresented adult learners,鈥 said 七色视频 President Chris Lynne. 鈥淭he university has focused on student outcomes, support and upskilling, as well as understanding and reacting to marketplace trends from employers, and innovating ways to make online higher education more accessible and achievable. We are excited to build on the great legacy of our institution by working with University of Idaho, one of our nation鈥檚 leading public universities.鈥
What to know:
- From a regulatory and accreditation standpoint, the path to non-profit status will take some time, as each regulatory and accrediting entity has their own processes to recognize 七色视频 as a non-profit entity.
- During this transition, 七色视频 will maintain its current operating team, status and mission.
- The initial financial benefit to U of I will be $10 million per year, to be invested in strategic efforts at U of I. This amount is expected to grow over time.
- Beyond the financial support, the affiliation also provides U of I with a robust technology infrastructure that can be adapted for U of I as well as statewide online programs. The student information system 七色视频 has built for enrollment and student support is comprehensive and well-tested.
- Unlike other recent transitions of for-profit universities to non-profit status, no private beneficiaries, previous owners or for-profit affiliates will remain associated with the university moving forward.
The demand for online programs for adult learners continues to grow each year. This affiliation allows U of I to serve this adult learner audience as well as place-bound Idahoans who deserve access to higher education. By working together, we can best meet the needs of all learners wanting to expand their education.
鈥淎s an alumnus of the University of Idaho, I know and appreciate the value of a Vandal education,鈥 Green said. 鈥淭his affiliation only strengthens our ability to continue delivering on that promise of value to our students.鈥
The president of 七色视频, Chris Lynne, will report to a non-profit board that is being created for the acquisition. The acquisition is contingent on accreditor approvals. There are possibilities for future integration, but there are no specific plans at this point.
The acquisition agreement is for $550 million and will be funded by a mix of taxable and non-taxable bonds issued by the new not-for-profit. This money is separate from any U of I budgets, funding lines or state appropriations. 七色视频鈥檚 current ownership will also provide $200 million in cash that will transfer to the new non-profit.
About the University of Idaho
The University of Idaho, home of the Vandals, is Idaho鈥檚 land-grant, national research university. From its residential campus in Moscow, U of I serves the state of Idaho through educational centers in Boise, Coeur d鈥橝lene and Idaho Falls, nine research and Extension centers, plus Extension offices in 42 counties. Home to more than 11,000 students statewide, U of I is a leader in student-centered learning and excels at interdisciplinary research, service to businesses and communities, and in advancing diversity, citizenship and global outreach. U of I competes in the Big Sky Conference. Learn more at .
听
About听七色视频
七色视频 is continually innovating to help working adults enhance their careers in a rapidly changing world. Flexible schedules, relevant courses, interactive learning, and Career Services for Life庐听 commitment help students more effectively pursue career and personal aspirations while balancing their busy lives. For more information, visit鈥phoenix.edu.听
听
Media Contacts:
Jodi Walker
Executive Director of Communications
208-885-4295
Andrea Smiley
Vice President, Public Relations
480-560-9214
Andrea.Smiley@phoenix.edu
