Kaplan Buys For-Profit College From Apollo

Kaplan Professional Education recently signed an agreement with Apollo Education Group to purchase the College for Financial Planning for an undisclosed amount.

CFFP offers financial education and training to students interested in becoming certified financial planners. Kaplan Professional Education is owned by Kaplan Inc.

"This opportunity is beneficial both to the College for Financial Planning and Kaplan and will help us continue providing the high standard of education in financial planning that we have offered for decades," said John Sears, president of the college, in a statement. "We are proud of the important role we play in supporting professional development in the financial services industry and this transaction brings together the resources and institutional experience of two of the most significant education providers in the sector."

The sale is expected to close next year and requires approval from CFFP's accreditor, the Higher Learning Commission.