Home News Dream Center plans pullout from most Art Institute campuses – Pittsburgh Post-Gazette

Dream Center plans pullout from most Art Institute campuses – Pittsburgh Post-Gazette

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Dream Center Education Holdings, after shuttering 18 Art Institute campuses at the end of last year, has informed federal education regulators it plans to pull out from most Art Institute campuses and South University to avoid bankruptcy, according to federal education regulators and a state agency in Washington State.

Under the plan, Dream Center will keep the Art Institute of Pittsburgh, Art Institute of Las Vegas and the Argosy University campuses. Ownership of the other dozen or so Art Institute campuses that are still accepting students would be transferred to a nonprofit called Education Principle Foundation, based in Delaware.

Any change in ownership requires approval from the U.S. Department of Education and regional accrediation agencies.

The Dream Center Foundation, a Los Angeles-based nonprofit that runs charitable services nationwide, agreed to purchase the nationwide Art Institute chain, South University and Argosy University in a $60 million deal with Pittsburgh-based Education Management Corp. in March 2017. EDMC, a for-profit education company, is liquidating in bankruptcy.

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