Education Dept. Tentatively Approves DeVry Sale

U.S. Department of Education officials sent a letter to DeVry University's parent company, Adtalem Global Education Inc., saying they don't foresee any impediment to the proposed ownership transfer of the for-profit university to Cogswell Capital LLC. Cogswell is the owner of Cogswell College, a private California-based for-profit institution.

In the letter, the department also outlined conditions for DeVry's continued participation in the federal financial aid program, including maintaining an existing line of credit on file with the department, compliance with prior settlement agreements and limiting the number of new programs that the university can add.

The transfer still requires approval from DeVry's accreditor, the Higher Learning Commission.