The for-profit college chain will shut down today, affecting several thousand students, if a new buyer is not secured — a scenario observers say has small chances of happening.
A court-appointed receiver plans to close Argosy University campuses today if a buyer is not found for the for-profit college, a decision driven by the Trump administration’s decision to cut off Title IV student aid to those colleges more than a week ago.
But the receiver has yet to convey those plans officially to the Department of Education and is due to appear Monday before a federal judge in an ongoing legal challenge over his management of the colleges. The murkiness over the campuses’ status entering Friday adds to uncertainty students have faced since Argosy failed to make financial aid payments for the spring semester.
Campus closures would mean students could either opt for loan cancellation or seek to transfer their credits to a different college — a choice that could be more difficult without an official agreement in place between Argosy and another institution.