At its basic level, the joint-venture idea is a variation on the outsourcing that many institutions already engage in with companies for 'noncore" services such as facilities management and marketing, and for the curricula and electronic platforms they use to deliver distance-education course materials.
The difference? Instead of paying an outside third party to provide such services and letting it keep the profit it makes, the college and a financial partner establish a joint venture and pay market-rate fees to that entity for providing the services.
"Instead of all the profit being retained by the third party," says Mr. Goldstein, it goes to the joint venture, and then is shared between the college and its partner.
Career College Association to hold Policy Forum and Hill Day in March.
Career College Association annual convention to be held in June in Las Vegas.
NASFAA summarized the outcomes of the NegReg committee, including its failure to compromise on gainful employment and incentive compensation (HT: Tim Ranzetta)
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