U.S. Allows 2 For-Profit Schools to Convert to Nonprofits

Two large for-profit colleges, Kaplan University and the Art Institutes, have been approved to become nonprofits this year by the Education Department, BuzzFeed News reported Monday.

Purdue University in April announced it was buying Kaplan University in an unprecedented move as Kaplan mostly has an online footprint. In March, a philanthropic foundation in Los Angeles said it was purchasing most of the career colleges owned by Education Management Corp., including the 31 Art Institute campuses in the U.S.

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