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+--- Thread: Purdue Global Owes $128 Million to Kaplan (/Thread-Purdue-Global-Owes-128-Million-to-Kaplan)
Purdue Global Owes $128 Million to Kaplan - sanantone - 06-22-2024
This news story is six months old, but it's something to watch over the next couple of years. Purdue Global has an agreement to pay 12.5% of its proceeds plus fixed fees for online program management to Kaplan. From what I've heard from Purdue Global faculty, Kaplan is not good at providing those program management services. Anyway, Purdue Global has a net operating loss of $95 million, and neither the Purdue system nor Indiana taxpayers can legally cover Purdue Global's debts.
https://www.forbes.com/sites/dereknewton/2023/12/17/purdue-global-owes-128-million-to-its-for-profit-partner-it-may-not-be-able-to-pay/?sh=763479137998
RE: Purdue Global Owes $128 Million to Kaplan - ss20ts - 06-22-2024
I feel like this was brought up on here months ago. There's definitely talk on here about their finances and how this could impact their future.
RE: Purdue Global Owes $128 Million to Kaplan - bjcheung77 - 06-22-2024
It was, here's the previous thread: https://www.degreeforum.net/mybb/Thread-Purdue-Global-Owes-128-Million-It-May-Not-Be-Able-To-Pay
RE: Purdue Global Owes $128 Million to Kaplan - sanantone - 06-22-2024
Ah! I tried to search to see if it was already posted. My apologies.
RE: Purdue Global Owes $128 Million to Kaplan - MNomadic - 06-27-2024
It seems that there *should* have been some sort of service level agreement when the contracts were written/signed allowing Purdue to take some sort of course of action in the event that Kaplan doesn't meet their end of the bargain(as measured by some form of performance metric). If Purdue failed to ensure there was an adequate enforcement mechanism, then that's on them for making a bad deal unfortunately.
RE: Purdue Global Owes $128 Million to Kaplan - ifomonay - 06-27-2024
Purdue has their own online programs now. I think Purdue should make the hard decision and shut down Purdue Global.
RE: Purdue Global Owes $128 Million to Kaplan - ss20ts - 06-27-2024
(06-27-2024, 04:08 PM)ifomonay Wrote: Purdue has their own online programs now. I think Purdue should make the hard decision and shut down Purdue Global.
They're 2 different universities though. PUG tuition is not Purdue tuition. PUG also has a contract which probably has steep penalties for breaking it.