Letter Urges DeVos to Set Conditions on EDMC Sale

Thirty student, consumer and veterans’ groups called on Education Secretary Betsy DeVos Thursday to seek public comment and impose conditions on the sale of several Education Management Corporation properties to a Los Angeles nonprofit.

EDMC agreed in March to sell Argosy University, South University and the Art Institutes to Dream Center Education Holdings LLC. The Dream Center is a Christian missionary organization that says it will convert the for-profit colleges into nonprofit enterprises.

The sale requires approval from accreditors as well as the Department of Education. The groups wrote to DeVos saying her approval should be contingent on several conditions:

• Whether the operations of the EDMC institutions are likely to avoid the predatory practices identified by federal prosecutors
• Whether the structure of the colleges going forward will actually meet claims of nonprofit status
• Whether taxpayers are protected against insolvency

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