• About Us
    • Join CAPPS Email List
    • What is Private Postsecondary Education
    • About ICEPAC
  • News
    • Legislation / Advocacy
  • Events
    • CAPPS Legislative Policy Conference 2021
    • 37th Annual Conference
    • Educational Advisors ~ Event Calendar
  • Resources
    • Classifieds
    • Professional Online Training Center
    • State and Federal Resources
    • Accreditors
    • Boards
    • Associations
  • CAPPS Member Portal & Archives
    • CAPPS Membership Directory
    • Conference Archives
    • Webinar Archives
    • Workshop Archives
    • CAPPS Member Portal
      • CAPPS Legislative Watch
    • Featured Members
    • Select Allied or School Benefits – Why be a CAPPS Member?
      • School Membership Application & Renewal Form
      • Allied Membership Application & Renewal Form
  • Awards
    • CAPPS Memorial Scholarships
    • Excellence in Community Service Awards
    • CAPPS Hall of Fame STAR Awards
    • Norma Ford Financial Aid Professional of the Year
    • School of the Year
    • Allied Member of the Year
California Association of Private Postsecondary Schools                        
916-447-5500
Email
        Login
CAPPS
  • About Us
    • Join CAPPS Email List
    • What is Private Postsecondary Education
    • About ICEPAC
  • News
    • Legislation / Advocacy
  • Events
    • CAPPS Legislative Policy Conference 2021
    • 37th Annual Conference
    • Educational Advisors ~ Event Calendar
  • Resources
    • Classifieds
    • Professional Online Training Center
    • State and Federal Resources
    • Accreditors
    • Boards
    • Associations
  • CAPPS Member Portal & Archives
    • CAPPS Membership Directory
    • Conference Archives
    • Webinar Archives
    • Workshop Archives
    • CAPPS Member Portal
      • CAPPS Legislative Watch
    • Featured Members
    • Select Allied or School Benefits – Why be a CAPPS Member?
      • School Membership Application & Renewal Form
      • Allied Membership Application & Renewal Form
  • Awards
    • CAPPS Memorial Scholarships
    • Excellence in Community Service Awards
    • CAPPS Hall of Fame STAR Awards
    • Norma Ford Financial Aid Professional of the Year
    • School of the Year
    • Allied Member of the Year

News

  • Home
  • News
  • National American University is latest for-profit chain to face financial turmoil

National American University is latest for-profit chain to face financial turmoil

  • Posted by CAPPS
  • Date

InsideHigherEd

By Andrew Kreighbaum

As Democratic lawmakers raked many for-profit colleges over the coals during the past decade, National American University, a chain based in South Dakota, managed to keep its reputation mostly intact.

But the publicly traded company has been beleaguered in recent years by the same troubles affecting much of the for-profit sector. Plummeting enrollment has prompted National American to close physical locations and place its bet on online education as the path to sustainable growth.

The company’s financial challenges also have prompted scrutiny from the U.S. Department of Education and other regulators.

After National American de-listed from the Nasdaq stock exchange and acknowledged in a January corporate filing that falling revenues raised “substantial doubts” about its ability to continue operating, the Education Department sought collateral in the form of a letter of credit and imposed new financial reporting requirements on the chain. The new oversight measures were first reported by Education Dive.

The company said it is committed to offering academic programs online. But after the abrupt closure of multiple for-profit college chains in the past year — including Education Corporation of America, Vatterott College and Dream Center-operated colleges — the new disclosures about financial turmoil at National American have some observers closely watching the response by regulators.

“During its 78-year history, the university has periodically evolved to serve the changing needs of its students, the majority of whom are working adults. College education has changed dramatically during the past several years and continues to evolve today. Our students want full mobile functionality and support services available 24-7,” Ronald Shape, National American’s president and CEO, said in a statement. “To serve the needs of the majority of its students, NAU will primarily offer courses online taught by faculty across the country.”

The company will continue to operate physical locations at Ellsworth Air Force Base and… (continue reading)

  • Share:
author avatar
CAPPS

Previous post

Rival Publishers Join Forces

Next post

San Joaquin Valley College Joins Movement To Rebuild The Skilled Trade Workforce

You may also like

Screenshot 2021-01-21 161018
AG Becerra sues Department of Education for easing oversight of for-profit colleges
21 January, 2021
Inside Higher Ed
Biden Extends Break on Repaying Student Loans
21 January, 2021
Career Education Review
Unitek Learning Leadership Announcement for Chief Operations Officer
21 January, 2021

Search

Memorial Scholarship Information
Donate to ICEPAC
Become an Allied Member
Become a School Member
CAPPS Events

ABOUT US

  • What is Private Postsecondary Education
  • CAPPS Memorial Scholarships
  • Upcoming Conferences

MAILING ADDRESS:
California Association of
Private Postsecondary Schools
2520 Venture Oaks, Suite 170
Sacramento, CA  95833
info@cappsonline.org
www.cappsonline.org    

CappsOnlineMorpho Web Design.

2020 All Rights Reserved CappsOnline.org