The University of Idaho continues to spend money on the possibility that it (or the State of Idaho) may buy the University of Phoenix from Apollo Global Management. According to Kevin Richert at Idaho Ed News, the University of Idaho has already spent $14.2 million on this purchase, with the chance of a money back guarantee--sort of.
Over the last year, University of President C. Scott Green has accepted the ridicule of Saturday Night Live and the questioning of the NY Times. In addition to investing his reputation on the deal, Green has spent thousands of his personal dollars trying to line up allies in the Idaho Legislature to help him out. But some of them have already lost their election bids.
Phoenix has told President Green what a great buy this is for the University of Idaho, seemingly unaware that this is a school that is not well, with almost a million student debtors holding more than $21 billion in student loan debt.
In addition, more than 73,000 University of Phoenix student loan debtors have filed for debt forgiveness, alleging the school has defrauded them--and that of that group, 19,000 are getting immediate relief from the Sweet v Cardona case--something the owner or future owner may be liable for.
What more does President Green need to know before pulling the plug on this deal? Are there that many Idaho politicians that can be bought and sold? We don't think so.
This sir, is a dead parrot. And for those who do not know the cultural reference...
Related links:
New Data Show Nearly a Million University of Phoenix Debtors Owe $21.6 Billion Dollars
