![]() Last summer, the Biden administration announced it would cancel $6 billion in student loans to borrowers who say a number of colleges, including the University of Phoenix, defrauded them.Ĭopyright 2023 KTVK/KPHO. The full-time enrollment at University of. Its current enrollment stands at just under 80,000. The total enrollment at University of Phoenix-Arizona in 2021, both undergraduate and graduate, is 171,672 students. The University of Phoenix has struggled with declining enrollment in the last decade amid increased scrutiny of for-profit colleges and universities. The university says that risk would be offset by initial educational funding that would grow in the coming years. The University of Idaho, however, would guarantee up to $10 million annually should the nonprofit create fail to cover its debt payments. U of I has also said it would not significantly impact the Idaho school’s campuses or operations. Part of the deal includes $200 million in cash that would sit in the nonprofit arms of the newly-created entity. If the deal is approved, it would be completed by early next year. Arizona’s Family CBS affiliate in Boise reports that the Idaho State Board of Education will hold a special meeting on Thursday to consider the proposal. The news also comes as rumors swirled in the industry of a possible sale to the University of Arkansas, but the deal was called off in April. The University of Idaho said the move is being paid for by bonds issued by the nonprofit entity. In a sudden announcement made Wednesday morning, the University of Idaho announced plans to create a nonprofit entity comprising the University of Phoenix assets, which would be acquired for about $550 million. BOISE, ID (3TV/CBS 5) - The University of Phoenix may be acquired by a public university in Idaho after the school eyes a complete transformation into a nonprofit. ![]()
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