Purdue NewU Receives Key Approval

Posted: Updated:
Purdue President Mitch Daniels announced the acquisition of Kaplan University in April. Purdue President Mitch Daniels announced the acquisition of Kaplan University in April.

The U.S. Department of Education has approved plans for Purdue University to acquire Kaplan University and create the state's newest public institution. The Purdue NewU approval is the second of three needed to complete the transaction, with a review by the Higher Learning Commission still pending.

NewU has already received approval from the Indiana Commissioner for Higher Education. Purdue did not give an expected time frame for a ruling from the HLC, an independent, post-secondary education accreditation organization. 

"Purdue is appreciative of the Department of Education’s swift action," said Frank Dooley, senior vice provost for teaching and learning. "Following on the heels of the unanimous approval by the Indiana Commission for Higher Education, the Department of Education's authorization is additional affirmation of Purdue’s proposal and the desire to fulfill our land-grant mission by making access to affordable education even more broadly available to those who stand to benefit the most from such access."

Purdue announced the acquisition in April, at which time President Mitch Daniels said the new university would be "almost exclusively online," upon launching. The university says NewU is part of an effort to expand "access to higher education for working adults and others for whom traditional campus study is not accessible or attainable."

Purdue said in April all 32,000 Kaplan students and 3,000 employees will transition to the new university. NewU will be overseen by a six-member board of trustees, which will approve all functions of the university, including academic, budget, marketing and operations.

As part of the deal with Kaplan parent Graham Holdings Co. (NYSE: GHC), Purdue will pay $1 up front and then pay Graham Holdings a percentage of revenue through the life of the 30-year service agreement.

  • Perspectives

    • EQ Can Take You Past The Limits of Your IQ

      While the concept of emotional intelligence isn't new, it's been gaining traction in today's business world. When employers talk about the importance of "soft skills" and traits such as resilience and empathy, they're actually describing components of emotional intelligence. Why is it important to understand our emotional intelligence?



Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • NH Firm Acquires Bitwise Solutions

      A Carmel-based web design and development firm is under new ownership. Bitwise Solutions Inc., which was founded in central Indiana more than 25 years ago, has been acquired by New Hampshire-based SilverTech Inc. Financial terms of the deal were not disclosed. SilverTech says it will retain the current Bitwise Solutions staff, including former owners Ron Brumbarger and Scott Workman, who will continue in key leadership roles. The company says the growth of...

    • Three Startups Growing in Fishers

      Three Fishers-based startups have announced growth plans. The city says VendorJump, Ultimate Automation and Sales Tuners, all of which have roots at Launch Fishers, have committed to investing a total of nearly $2 million and adding more than 80 jobs by 2021.

    • New Businesses Coming to Carmel City Center

      Carmel City Center is set to open several new businesses this summer. Oliver's Twist, Be.You.Tiful Nails and Addendum Gallery will all move from current locations to a larger space in the new Baldwin & Chambers Building. 

    • Ash Brokerage to Make Acquisition

      Fort Wayne-based Ash Brokerage Corp. has announced plans to acquire Zenith Marketing Group in New Jersey. Financial terms of the acquisition were not disclosed, however the insurance brokerage firm says Zenith will continue operating under the same name and keep its 55 employees.

    • Developer Selected For River Ridge 'Front Door'

      The River Ridge Development Authority has selected Louisville-based Hollenbach-Oakley LLC to serve as master developer of an office park in the 6,000-acre property. Plans include a Class A office building in the gateway portion of the River Ridge Commerce Center near the new Lewis and Clark Bridge interchange. Officials say the office park will offer a different environment than the manufacturing and distribution-focused operations located throughout the rest of River Ridge.