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Education


Northeast Ohio's Chancellor University to close by the end of summer
Economist says for-profit group may have bought university for its accreditation
Story by LYNDSEY SCHLEY


 
In The Region:

The college that graduated John D. Rockefeller, Sr. and Harvey Firestone has announced it will be closing at the end of summer.

Chancellor University in Seven Hills has not said why it’s closing. The 165-year-old university closed in 2007 due to financial troubles. When it reopened a year later, it changed from a private non-profit university to an online-only for-profit university.

David Breneman, an economist of education at the University of Virginia, says the for-profit group may have bought the university for its accreditation.

LISTEN TO: BRENEMAN ON ACCREDITATION

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“Getting accredited for a brand new institution can sometimes take five or more years, and you can’t really be getting student aid until you’ve gotten accredited," Breneman says. "So if you can swoop in and buy a previously accredited institution and keep the accreditation, that’s a big win for the for-profit.”

Breneman says accreditation bureaus are trying to ban this practice.

The approximately 250 Chancellor students will automatically transfer to Alliant International University in California in the fall.

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