ARKANSAS, USA — The University of Phoenix has moved on from a proposed affiliation with the University of Arkansas System after the system's board of trustees voted against the deal last month.
The for-profit online university will instead partner with the University of Idaho, the latter institution announced Wednesday. The arrangement is similar to the one proposed by UA System President Donald Bobbitt: a newly-created not-for-profit organization affiliated with the University of Idaho will acquire Phoenix for $550 million.
The transaction is expected to close by early 2024. It's being financed through non-taxable and taxable bonds that are separate from the university's budget.
To read more on the University of Phoenix deal, our content partner Arkansas Business has the full article here.