Deals
How $50 Million Turns For-Profit Kaplan Colleges Into a Charity
- Purdue University teams up with company to sell online degrees
- A way to shed a tarnished label -- and still stay in business
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How do you turn a for-profit college into a nonprofit? Partner with a public university -- and pay $50 million for the privilege.
That’s basically what happened on Thursday, in a financial deal between the for-profit Kaplan higher-education chain and Purdue University, the flagship Indiana college run by Mitch Daniels, the state’s former governor.