A major owner of for-profit colleges is expected to announce the purchase of National Hispanic University on Tuesday, the San Jose Mercury News reports. The newspaper says an official with Laureate Education, which owns more than 50 accredited colleges around the world, told the university’s provost that the purchase would help the company reach Hispanic students. National Hispanic now enrolls about 600 students, and Laureate plans to add up to 8,000 online students within five years and potentially open sister campuses. Laureate does not release the cost of acquiring colleges. However, the Mercury News reports that National Hispanic officials describe the deal as “unusually favorable” because they will retain ownership of the campus and help direct the future of the college.
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