Didn’t Argosy University have a good run? Argosy University had campuses across the United States. It was a private for-profit university. Dream Center Education Holdings owned it. Education Management Corporation also owned it.
Argosy University’s origins trace back to three institutions. These were the American School of Professional Psychology. The Medical Institute of Minnesota was another. The University of Sarasota completes the trio. Michael Markovitz founded the Illinois School of Professional Psychology. It later became the American School of Professional Psychology. In 1976, Markovitz founded Argosy Education Group. It acquired the University of Sarasota in 1992. The University of Sarasota focused on business and education. It was founded in 1969. Six years later, Argosy Education Group acquired the Medical Institute of Minnesota. It had been established in 1961.
In July 2001, Education Management Corporation acquired Argosy Education Group. Two months later, Argosy Education Group united. It brought together the American School of Professional Psychology. It also included the Medical Institute of Minnesota. These joined with the University of Sarasota. They all came under the Argosy University name.
In 2009, students of Argosy University in Dallas filed a lawsuit. They claimed university recruiters gave inaccurate information. The school would soon receive accreditation. It would come from the American Psychological Association. The school had not completed the process by graduation. At the time, Argosy University Dallas had not applied for APA accreditation. Argosy officials rejected charges of fraud. They noted that APA accreditation was still underway.
The PBS program Frontline featured Argosy University in 2010. It was part of a program about for-profit universities. It was called “College, Inc.” That same year, Argosy University was named in a Government Accountability Office report. Recruiters were found to have made deceptive statements. They spoke with undercover applicants.
In 2011, the Florida Attorney General investigated Argosy University. This followed eight consumer complaints. The school cooperated. In 2012, Western State University College of Law was renamed. It became Western State College of Law at Argosy University.
In December 2013, EDMC agreed to pay millions. It was to settle charges with the Colorado Attorney General. Argosy University had engaged in deceptive marketing practices. The settlement did not require EDMC to admit liability.
In March 2017, Education Management Corporation planned to sell the Argosy schools. The buyer was the Dream Center. It is a Los Angeles-based Pentecostal organization. The sale faced scrutiny. The transaction closed in November 2017.
In 2019, USA Today reported that Argosy University campuses were under receivership. Their accreditation was at risk. The Washington Post reported that being kicked out of federal student-aid programs would sound the death knell for Argosy.
In February 2019, the Department of Education cut off federal funding. It was due to misuse of funds. All Argosy campuses officially closed on March 8, 2019. Many institutions supported Argosy University’s students. They helped them complete their programs.
Following campus closings, Argosy teachers and staff reported they had not received their final paychecks. In 2022, Argosy University was included in student loan cancellation. It was due to alleged fraud.
Argosy University-Twin Cities was located in Dakota County, MN. In 2018, the most popular associates degree concentrations were Veterinary Technician and Assistant. Diagnostic Medical Sonography was next. Dental Hygiene was also popular.
In 2018, 389 degrees were awarded. Most went to women. The median undergraduate tuition was less than the national average. In 2015, the default rate for borrowers was 15.6%.
Argosy University’s story is a reminder of the challenges in the for-profit education sector. It highlights the importance of accreditation. It shows the need for transparency. It emphasizes the need to support students.