Pearson Embanet could earn up to $186 million over 11 years from its deal to manage the new University of Florida online college, The Gainesville Sun reported. The article details efforts by the university to keep many details (including how Pearson Embanet's performance will be judged) private, saying that they are trade secrets.
The online education company 2U's stock prices rose 7.54 percent after its first day of trading on Friday. The company had priced its initial public offering at $13 a share, and ended the day at $13.98. CEO Chip Paucek rang the opening bell to signal the start of trading Friday morning.
Missouri lawmakers have attached to a budget bill a ban on using state student aid at institutions that do not have, for purposes of accreditation, a headquarters in the state. The Columbia Daily Tribune reported that this is an effort to limit the use of state funds at Western Governors University Missouri, an offshoot of the competency-based online university. Governor Jay Nixon is a big proponent of Western Governors, but some legislators say that it will take money that is needed for other institutions in the state.