Company's Deal to Buy N.M. University Collapses

A plan by Singapore-based Raffles Education Corp. to buy Santa Fe University of Art and Design has been scuttled amid scrutiny from an accrediting agency, the Santa Fe New Mexican reported. Raffles, which has been trying to break into the American higher education market, had sought to buy the Santa Fe institution, which is affiliated with (but not owned by) Laureate Education. The New Mexican said that the Higher Learning Commission, which accredits the for-profit university in Santa Fe, postponed a vote on its approval of the deal, reportedly leading the university to call it off.