Community Care College, a small institution located in Tulsa, Okla., that offers certificates and associate degrees in health care and business education, shifted to nonprofit from for-profit status on Wednesday, the Tulsa World reported.
The college is now called Community HigherEd. Its founder, Teresa Knox, told the newspaper that she wants the college to continue being evaluated on student outcomes, graduation rates, job placement rates and student loan default rates. The so-called gainful employment regulations, which do just that, and apply primarily to for-profits, took effect the day Community Care College made the switch.
“‘For-profit is periphery to our primary mission and purpose and minimizes our long-term goal,” Knox said in a written statement. “Our strategy is to increase the number and amount of scholarships offered to students in order to reduce student loan debt and expand educational and career opportunities to those that need it most."