Purdue University has purchased the for-profit Kaplan University for $1 with plans to transform it into a non-profit Indiana public university.
The purchase, which Inside Higher Ed calls “unprecedented,” comes at a time when President Donald Trump’s Department of Education is rolling back restrictions on the for-profit college industry set by the Obama administration, which rejected deals like Purdue’s, USA Today reports. Since March, Secretary of Education Betsy DeVos has hired a for-profit college official as a special assistant and rescinded Barack Obama-era guidelines meant to protect student-loan borrowers.
Kaplan will continue to run Purdue’s new university, which is intended for “non-traditional adult learners.”
