The Higher Education Inquirer is awaiting five Freedom of Information Act (FOIA) responses from the US Department of Education (ED) regarding the University of Phoenix. All of these pending requests were made in 2023.
ED has already provided important and substantial information, including an estimate of $21.6B in student loan debt by more than 900,000 University of Phoenix debtors and tens of thousands of Borrower Defense fraud claims, many that have already been settled in favor of the student debtors in Sweet et al. v Cardona.
To any organization considering an acquisition of the school, we suggest that they read this information as part of their due diligence.
Copies of this article have been sent to University of Idaho President C. Scott Green and Idaho Governor Brad Little.
23-02053FThe Higher Education Inquirer is requesting a digital copy of the most recent Program Participation Agreement between the University of Phoenix and the US Department of Education. This request is being made for transparency and accountability related to a proposed sale of the University of Phoenix by Apollo Global Management and Vistria Partners. The most current potential buyer is the University of Idaho, which will create a new organization that will issue bonds. (Date Range for Record Search: From 06/22/2016 To 06/22/2023)
23-02283-F
The Higher Education Inquirer is requesting the Fiscal Year 2022 equity value of the University of Phoenix. The number may be rounded to the nearest ten million dollars. We would also like restricted and unrestricted cash numbers for the school if they are available. IPEDS has the equity value numbers up to FY 2021. (Date Range for Record Search: From 06/01/2022 To 07/16/2023)
The Higher Education Inquirer is requesting a copy of the completed Pre-Acquisition Review application the University of Idaho has submitted for the acquisition of University of Phoenix. The review was mentioned in the Idaho Statesman, by Jodi Walker, a University of Idaho spokesperson. (Date Range for Record Search: From 05/01/2023 To 07/23/2023)
23-02537-F
The Higher Education Inquirer is requesting any and all correspondence between the US Department of Education and the University of Idaho, 43 Education, or NewU regarding a proposed purchase of the University of Phoenix. This includes any and all information about a Pre-Acquisition Review. The University of Idaho created NewU and 43 Education as an intermediary organization to shield itself from liability. (Date Range for Record Search: From 05/11/2023 To 08/11/2023)
23-02548-F
The Higher Education Inquirer is requesting an estimate of the total number of cases and the total dollar amount of Borrower Defense to Repayment claims against the University of Phoenix that were approved in the Sweet v Cardona settlement. (Date Range for Record Search: From 01/01/2023 To 08/14/2023)
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