The Art Institute of Pittsburgh and Philadelphia are not part of the sale at this point. All other schools (not in teach out) are. The teach out schools will remain under EDMC until they graduate or transfer the last students. AIPitt and AIPhil have not met the requirements for Middle States accreditation in time for the sale. They have been given more time to submit additional details on the sale and transition to Dream Center Education Foundation. Those remaining campuses are expected to be added to the sale sometime in Winter or early 2018. The DOE has given it's blessing. The campuses that had ACICS actually benefited by this because ACICS has also been given extra time to resolve their issues by the DOE an additional 18 months so ACICS schools can continue to operate fully until end of 2018 and look for different accreditation. The bulk of the EDMC colleges will officially be a part of the Dream Center Education Foundation on Monday Oct. 2, will be nonprofit and fully accredited. EDMC will no longer have any input or control after October 2. What Dream Center Foundation will do is uncertain. More then likely no much for the next 6 months to a year as they review campuses programs and enrollments. No matter what happens the fact that these colleges will be nonprofit will have a huge impact on capital, tuition and the ability of the campuses to grow. EDMC drained the life out of the schools at the hands of its boards and investors- that death grip is finally over.
Bumped to a thread from @PvM7wbe-2kla for good info.