(EDMC sold the building last year.) The new owners of the building have publicly stated other intentions for the space than leasing to AIP. The dorms are sold as were other real estate holdings in the EDMC portfolio. Duped students who start at AIP this fall won’t graduate in that building – if there is even still a school at all. They are being sold lies. I won’t be shocked if the AI brand is being phased out altogether. It doesn't meet GE standards. Does anyone think Get Creative non-credit classes will provide the cash flow to save the brand? Or enough advertising to meet new regulations? Those around long enough know they tried that trick long ago and pulled the plug. What about the “art grants” they make the degrees cheaper but with lower enrollment it just means lower profits. This is a for-profit business and it is bust. You can't let go all of the talented faculty, hire new people every quarter (even talented people need time to develop classes), allow facilities to become run down ... horrible morale.. bad press... legal issues.... done.
1 reply
A teach out would take a few years. If EDMC made it this far I don't think they will fold. They have too many friends in high places. They will just move to a smaller place.