Graduate Students

Iowa Private College Sells Assets to For-Profit University

May 09, 2009

Waldorf College, a financially struggling private institution in Iowa, has agreed to sell its assets to Columbia Southern University, an online institution based in Alabama.

“This is an exciting day — the culmination of many months of hard work,” Dick Hanson, Waldorf’s president, said in a statement.

The 580-student college, which is affiliated with the Evangelical Lutheran Church in America, is expected to maintain its name and its campus in Forest City while adding five new majors, in international management, criminal-justice administration, fire-science administration, sports management, and organizational leadership, The Des Moines Register reported. —Jeffrey J. Selingo