What just happened to a $22 million university account?
Steve’s breakdown: Purdue University just “took over” Kaplan University. That’s a great account but you know things are gonna change once Purdue gets in there. Perfect time to show your schoolin’.
WEST LAFAYETTE, IN: Purdue University is taking over the for-profit Kaplan University chain in order to expand its reach into online education.
Purdue’s Board of Trustees approved the deal Thursday with Kaplan, which enrolls 32,000 students online and at 15 campuses in seven states.
Purdue President Mitch Daniels says the school found it was ill-equipped to become a leader in online education and began looking to acquire those capabilities.
Purdue says all current Kaplan students and faculty will be moved into the new school that hasn’t yet been named. Purdue has about 68,000 students at its main campus in West Lafayette, Indiana, and regional campuses around the state.
Purdue says it isn’t paying any upfront money for Kaplan, which is a subsidiary of Virginia-based Graham Holdings Co.