July 7, 2010

For-Profits Buying Nonprofits: Salvation or Suicide?

Salvation or Suicide? 1

Linda Helton for The Chronicle

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Linda Helton for The Chronicle

By Jonathan Brand

Last March, Dana College announced its intent to be acquired by a for-profit institution. Recently the transaction failed, however, because Dana's proposed incarnation as a for-profit was unable to secure accreditation from the Higher Learning Commission of the North Central Association of Colleges and Schools. The same day Dana learned that accreditation was denied, it announced that it was closing its doors. The small baccalaureate college in Nebraska, heavily dependent on tuition and

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