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Vanishing Profit, and Campuses
May 7, 2015
By
Paul Fain

The dramatic collapse of Corinthian Colleges isn't the only shake-up happening in for-profit higher education, as a broad swath of the sector is shutting down or selling off campuses after years of declining revenue and enrollment.

On Wednesday two of the largest for-profit chains announced substantial cuts.

Education Management Corporation (EDMC) said it would gradually phase out 15 of 52 campus locations of the Art Institutes, which is one of the better known brands among for-profits. Roughly 5,400 students attend the closing campuses. (Click here for a list.)

Likewise, Career Education Corp. unveiled a broader restructuring, saying it will close or sell everything but its Colorado Technical University and American InterContinental University holdings. Those two universities, however, enroll most of the for-profit's roughly 45,000 students (20,300 for CTU and 13,500 for AIU, according to company officials).

Career Education is winding down all 14 Sanford Brown College and Institute campuses and online programs over the next 18 months or so. It is also seeking to sell Briarcliffe College, Brooks Institute and Missouri College. Collectively, those institutions enroll about 8,600 students.

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https://www.insidehighered.com/news/...-and-sell-offs