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Few Lessons Learned on For-Profit Closures
Inside Higher Ed: The Dream Center, a Los Angeles nonprofit that had agreed to purchase Argosy University and the Art Institutes chain just 24 months earlier, closed its doors in March amid finger-pointing and recriminations between a court-appointed receiver, congressional Democrats and the Education Department.
The Trump administration had blasted Dream Center management in a letter days earlier that announced it was cutting off federal aid to the chain of colleges. The receiver claimed he never saw millions in missing money for financial aid payments. And Democrats accused the Trump administration of dithering as major red flags appeared and closure of campuses became inevitable.
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