“Uncertainty will always be part of the taking charge process.” — Harold S. Geneen
As was pointed out on the forum today, and has been reported in various media, Penn Foster College is being bought by Princeton Review. In this they're playing catch up with rival Kaplan, which both has an extensive set of test preparation services as well as their own university.
This is interesting around here for a number of reasons. One is that Penn Foster College is often recommended as a good low cost option for eLearners whose goals can be reached with nationally accredited degree. We have a number of their students and alumni here, including the venerable Terry, our own in house blogger on the school and his experience with it.
As a result, many people have questions about what the sale may mean for the future of the school and especially whether it will affect current students. Some have pointed out that this is the second time in four years that Penn Foster College has changed hands. The most often cited fears seem to be that Princeton Review will raise its tuition. If I had to guess, I'd say that students can expect this. Penn Foster is just about as inexpensive a school as one can get, and since there aren't many others around competing at their price point, I can see a buyer looking at them and thinking that there's more revenue to be had. That Inside Higher Ed reports that many observers believe that Princeton Review paid a handsome price for Penn Foster College only makes a tuition hike seem more likely.
What would essentially guarantee a tuition hike, and a large one, is if Princeton Review decides to have Penn Foster College seek regional accredtiation. Back a few years ago when they were still called Education Direct, PFC applied for candidacy for regional accredtiation. I'd be curious whether their sort of independent study would be okay with regional accreditors, who aren't always easily excited about doing things differently in higher education. But Princeton Review president Michael J. Perik did say that they hope to use this to develop closer relationships with community colleges, so that they can provide more services to them to help them offer online programs. I wouldn't be surprised if that means that they'll offer community colleges a private label front end to what are essentially Penn Foster College programs, in other words where community colleges would essentially entirely outsource their online programs to Penn Foster College. That would be a very interesting development to watch, especially as different stakeholders weigh in.
In the end, only time will tell what Princeton Review's plans for Penn Foster College are and how it will affect current and future students. But here's hoping that whatever developments are in store for us, they don't change too much of what makes the school work so well for so many!
Next up, I comment on the Morgan State decision.