Mitch Daniels, the president of Purdue University, shocked the world of higher education on April 27 by announcing the public institution has agreed to purchase Kaplan University. Kaplan is a for-profit school that primarily caters to working adults seeking professional degrees online.
It is really more of an invited corporate takeover than a purchase, with only $1 paid to acquire the assets. In return, Graham Holdings, the current owner of Kaplan, will get a long-term contract to provide marketing, student and faculty support, and technology services for a share of the revenue.
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