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Proprietary colleges are for-profit colleges and universities generally operated by their owners, investors, or shareholders in a manner prioritizing shareholder primacy as opposed to education provided by non-profit institution (such as non-sectarian, religious, or governmental organization) that prioritize students as project stakeholders.
The main sources of initial capital for large proprietary colleges and online program managers are institutional investors: international banks, hedge funds, institutional retirement funds, and state retirement funds. [62] [99] Some smaller schools are family owned businesses. At elite universities, donors may serve as significant sources.
After the conversion the school owner remained involved in the school as a landlord, contractor, and chancellor. Kendall College – Chicago, Illinois, formerly owned by Laureate Education, purchased by National Louis University in 2018. [20] [21] Pittsburgh Technical College was an employee-owned for-profit school before becoming nonprofit in ...
In the 2010–2011 school year, more than $1 billion went to eight for-profit schools. [94] [95] In the 2012–2013 academic year, 31 percent of GI Bill funds went to for-profit colleges. Veteran participation in these schools, in effect, transferred $1.7 billion in post-9/11 GI Bill funds to these schools. [96]
They typically offer schools back-office services, but may also provide teacher training, facility support, and other management related services. In the 2018–19 school year, roughly 10% of charter schools contracted with a for-profit EMO, while about 30% contracted with a non-profit charter management organization. [6]
NIPSA was formed in 1983, in northern California, by a small group of enthusiastic educational professionals dedicated to the formation of a professional association of proprietary schools; the three co-founders were Charles Lavaroni, Ralph Gioveniello, and Pat O'Donnell. [2]
The California Bureau for Private Postsecondary Education (BPPE) is a unit of the California Department of Consumer Affairs charged with regulation of private postsecondary educational institutions operating in the state of California. The BPPE is not an accrediting agency. Its primary purpose is to prevent fraudulent diploma mills. [1]
It became a vocational school in 1924, and then started awarding bachelor's degrees in 1940. ** California State Polytechnic University, Pomona , was founded as a southern branch of California State Polytechnic University, San Luis Obispo in 1938, but became independent in 1966.