DeVry will transfer ownership. Leases and subleases have already been signed. All the numbers and requirements have been flushed out for over a year. It is costly to separate an entity from another and the teach out would have already been put into place of that was the plan. There will be slow changes as DeVry downsizes it’s footprint and there will be staffing reductions. This will not happen overnight. Pay may be impacted but not by more than 10-15% or unemployment laws take effect.
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Watch this post - sh-- is going to get real. ATGE leadership didn't involve anybody outside their little cabal until late February. These dates can never be hit unless there is a fallback plan. Cogswell has a number of outs already met- but this will go through. How? Good question.,,,,
With Betsy DeVos, there may be no impediment...
Teach-out isn't the plan, giving DeVry to Cogswell is, so DeVry becomes their problem to solve. Were the deal to fall through, though, teach-out (probably all online) would be the fallback option.
Cogswell could back out, or worse, the accrediting agency could object (Cogswell is already on accreditation warning, and promised not to try online classes. How they'll convince the accreditation agency to approve this acquisition, will be very, very interesting).
Adtalem is done with DeVry either way. Now, it's a matter of finding the least expensive solution.