American National University (ANU) takes great pride in its faculty and their accomplishments, employing educators who bring years of practical industry and academic experience to the classroom and are committed to student success, promoting career development, and assisting students to balance life and education. National American University is closing several of its physical campuses, including two in the metro. Its commercials boasted class flexibility to complete classes at your own pace, and that's.
Motto | Quality higher education in a caring and supportive environment. |
---|---|
Type | For-profit college (NASDAQ: NAUH) |
Established | 1941 |
President | Ronald L. Shape (CEO) |
Location | |
Colors | Royal Blue and White |
Website | www.national.edu |
National American University (NAU) is an online for-profituniversity with locations at Ellsworth Air Force Base and King's Bay Naval Submarine Base. It is owned by National American University Holdings, Inc. The company is headquartered in Rapid City, South Dakota. Henley-Putnam School of Strategic Security (formerly Henley Putnam University) is a part of National American University.[1]
NAUH is facing major financial challenges, and the company has laid off numerous workers, amounting to a $1.5 million cut in yearly payroll costs.[2]On January 22, 2019, NAUH announced that 'the Company had $0.5 million of unrestricted cash and cash equivalents and a working capital deficiency of $8.7 million. These factors, among others, raise substantial doubt regarding the Company’s ability to continue as a going concern.'[3][4]
- 1History
- 2Academics
- 3Locations
History[edit]
National American University is currently under extreme financial stress and it is closing most of its campuses. [5] In SEC reports, the parent company, National American University Holdings, has stated that it may not survive 2019.[6] According to Education Dive, an industry publication, this would affect more than 1,000 workers. [7]
Origins and growth (1941-2012)[edit]
National American University was established in 1941 as a one-year secretarial school by Clarence Jacobson. It was called National College of Business (NCB) and was located in a downtown Rapid City building. In 1960, Jacobson had the building that now houses administration for the Rapid City campus constructed at 321 Kansas City Street and moved National College to that location.
In 1962, NCB was acquired by Harold D. Buckingham and members of his family. Shortly after the Buckinghams purchased the school, a period of growth began which led to the construction of the classroom buildings, dormitories, a library, gymnasium, and an auditorium.
NCB was granted collegiate accreditation as a junior college by the Accrediting Commission of the Association of Independent Colleges and Schools in 1966. Senior college accreditation was granted in 1970.
The 1970s brought growth, with the addition of several branch locations in the Midwest and Rocky Mountain regions. This trend toward reaching out to other communities resumed in the 90s with the addition of more campuses nationwide.
In 1985, NCB earned accreditation by the North Central Association of Colleges and Schools (now called the Higher Learning Commission).
The university began offering online classes in 1996.
In 1997 National College of Business became National American University.
In 2009, National American University became part of National American University Holdings, a publicly traded corporation.
In 2012, the main Rapid City location was moved to Mount Rushmore Rd., south of Rapid City, which also houses the university's central administration offices.
Decline (2012-present)[edit]
In 2017, National American University purchased Henley-Putnam School of Strategic Security. [8]
In 2018, Robert Gravely, a former NAU official, filed a lawsuit alleging that the school defrauded the United States government out of millions of dollars in a student aid program, unlawfully paid bonuses to university employees for recruiting students and rigged the accreditation for its medical assisting program. [9] NAUH also mortgaged real property for $8 million in loans. [10] In 2018, more campus closings were also planned. [11]
In September 2018, the Rapid City Journal detailed NAUH's declining enrollment and financial difficulties. [12] On September 28, 2018, NAUH received a delisting warning from NASDAQ.[13]
On December 28, 2018, the NAUH Board agreed to voluntarily delist from the NASDAQ. [14]
On January 22, 2019, NAUH announced that 'the Company had $0.5 million of unrestricted cash and cash equivalents and a working capital deficiency of $8.7 million. These factors, among others, raise substantial doubt regarding the Company’s ability to continue as a going concern.'[15]
On February 15, 2019, NAUH announced Thomas Bickart as their new Chief Financial Officer. Mr. Bickart was CFO at TCI College of Technology from 2013 to 2016 and later worked at EdisonLearning, Inc. to restructure its operations.
On March 16, 2019, National American University announced that most of its 24 ground campuses would be closed, except for Ellsworth Air Force Base and King's Bay Naval Submarine Base.[16][17][18]
On March 31, 2019, National American University granted honorary doctorates to several people in India, including Astrologer Dr Sohini Sastri. [19]
On April 15, 2019, National American University reported that they must post a letter of credit for either 50% ($36.7 million) or 15% ($11 million) of its Title IV awards in order to continue participating in the program. [20][21]
The operation faced further pressure with an $800,000 debt payment due May 17, 2019, and an ongoing federal False Claims lawsuit.[22][23]
On May 10, 2019, NAUH received an $8.5 million loan from the Center for Excellence in Higher Education. The loan was set at a 7 percent interest rate with a $250,000 origination fee. [24]
On May 24, 2019, Inside Higher Education reported that students at National American University had been surprised that campuses were closing. [25]
On May 29, 2019, Rapid City reported that the city would purchase a portion of the Rapid City campus for a homeless resource center. [26]
In June 2019, two students in the Kansas City area sued the school for allegedly making false claims about educational quality and gainful employment after graduation. [27]
Academics[edit]
Enrollment[edit]
Total student enrollment has declined from 9,519 students in 2015 to 3,398 students in February 2019. [28] In March 2019, National American University announced that it was closing most of its remaining 24 campuses, including its campuses in Rapid City [29] and Sioux Falls.[30]
Programs[edit]
National American University offers Bachelor of Science degrees, Associate of Applied Science degrees, and diplomas in accounting, applied management, business administration, allied health, criminal justice, healthcare management, health and beauty management, nursing, legal studies, and information technology. Graduate degree programs include an M.B.A., a Master of Management degree, and a Master of Science in Nursing.
In August 2008, NAU's graduate studies program was renamed the Harold D. Buckingham Graduate School, in honor of the late owner. Degrees include the Doctor of Education in Community College Leadership, Master of Science in Global Supply Chain Management, Master of Science in Human Resource Management, Master of Science in Nursing, Master of Business Administration degree, and Master of Management degree with a variety of emphasis areas.
Distance learning[edit]
In 1996 National American University began to develop online courses and degree options for students across the United States and internationally. Online programs include associate’s, bachelor's and master's degrees in accounting, business, information technology, and health care. Students are also provided access to classes and extensive campus resources including learning resource center services, tutoring services, counseling services, and computer support through a student portal.
In 2012, 53 percent of NAU's students were studying online, with an additional 17 percent taking some classes online.[31] In 2018, 77 percent of NAU's students were studying online, with an additional 12 percent taking some classes online.[32]
Accreditation[edit]
NAU is regionally accredited by the Higher Learning Commission.[33] Several NAU programs are separately accredited by multiple national, educational and professional associations. NAU's baccalaureate and master's degree programs in nursing are also accredited by the Commission on Collegiate Nursing Education [34]
Locations[edit]
Remaining Locations[edit]
- Online
- Henley-Putnam School of Strategic Security
*Georgia
- Kings Bay Naval Base
*South Dakota
- Ellsworth Air Force Base
Closed Campuses[edit]
*Colorado
- Centennial (Denver Metro)
- Colorado Springs (North)
- Colorado Springs (South)
*Indiana
- Indianapolis
*Kansas
- Garden City
- Overland Park
- Wichita (East)
- Wichita (West)
*Minnesota
- Bloomington
- Brooklyn Center
- Burnsville
- Rochester
- Roseville
*Missouri
- Independence
- Lee's Summit
- Zona Rosa (Kansas City)
*Nebraska
- Bellevue
*New Mexico
- Albuquerque (East)
- Albuquerque (West)
*Oklahoma
- Tulsa
*South Dakota
- Rapid City
- Sioux Falls
- Watertown
*Texas
- Austin
- Georgetown
- Houston
- Killeen
- Lewisville
- Mesquite
- Richardson
Student Outcomes[edit]
According to the College Scorecard, NAU students have a median income of $34,800 after attending. The graduation rate is 17 percent. The student loan repayment rate is 24 percent.[35]
National American University Holdings, Inc[edit]
National American University Holdings, Inc., was a publicly traded corporation (NASDAQ: NAUH) holding company for NAU and other assets. The corporation was established in 2009 and is located in Rapid City, South Dakota.[36]
References[edit]
- ^https://www.globenewswire.com/news-release/2018/03/22/1444247/0/en/National-American-University-Holdings-Inc-Announces-Closing-of-the-Henley-Putnam-University-Transaction-Provides-Update-on-Operational-Consolidations.html
- ^https://www.educationdive.com/news/will-national-american-us-online-pivot-be-enough-to-keep-it-alive/549238/
- ^https://www.sec.gov/Archives/edgar/data/1399855/000165495419000678/nauh_10q.htm
- ^https://www.educationdive.com/news/for-profit-national-american-u-raises-doubts-about-survival/546719/
- ^https://rapidcityjournal.com/news/local/nau-closing-rapid-city-other-campuses/article_617c7935-3b52-51b9-bbb1-b2a5a9b76874.html
- ^https://www.educationdive.com/news/for-profit-national-american-u-raises-doubts-about-survival/546719/
- ^https://www.educationdive.com/news/will-national-american-us-online-pivot-be-enough-to-keep-it-alive/549238/
- ^https://globenewswire.com/news-release/2018/03/22/1444247/0/en/National-American-University-Holdings-Inc-Announces-Closing-of-the-Henley-Putnam-University-Transaction-Provides-Update-on-Operational-Consolidations.html
- ^https://www.argusleader.com/story/news/2018/02/01/s-d-profit-university-system-accused-defrauding-federal-student-aid-program/1088767001/
- ^https://www.sec.gov/Archives/edgar/data/1399855/000165495418005711/nuah_8k.htm
- ^https://www.sec.gov/Archives/edgar/data/1399855/000165495418009232/nauh_ex991.htm
- ^https://rapidcityjournal.com/news/local/national-american-university-spells-out-challenges-to-investors-as-student/article_29f0c7d9-17e1-5292-a9ea-eea5f82dced4.html
- ^https://www.sec.gov/Archives/edgar/data/1399855/000165495418010761/nauh_8k.htm
- ^https://www.sec.gov/Archives/edgar/data/1399855/000165495418014383/nauh_8k.htm
- ^https://www.educationdive.com/news/for-profit-national-american-u-raises-doubts-about-survival/546719/
- ^https://www.argusleader.com/story/news/business-journal/2019/03/25/national-american-university-sioux-falls-close-classes-shift-online/3266588002/
- ^https://rapidcityjournal.com/news/local/nau-closing-rapid-city-other-campuses/article_617c7935-3b52-51b9-bbb1-b2a5a9b76874.html
- ^http://www.startribune.com/national-american-university-transitions-to-online-courses/507663942/
- ^https://www.business-standard.com/article/news-ani/dr-sohini-sastri-honoured-with-d-litt-119040401058_1.html
- ^https://www.educationdive.com/news/as-national-american-u-faces-possible-closure-ed-dept-tightens-oversight/552830/
- ^https://www.insidehighered.com/news/2019/04/26/national-american-university-latest-profit-chain-face-financial-turmoil
- ^https://www.educationdive.com/news/will-national-american-us-online-pivot-be-enough-to-keep-it-alive/549238/
- ^https://rapidcityjournal.com/news/local/national-american-university-spells-out-challenges-to-investors-as-student/article_29f0c7d9-17e1-5292-a9ea-eea5f82dced4.html
- ^https://www.sec.gov/Archives/edgar/data/1399855/000165495419005948/nauh_8k.htm
- ^https://www.insidehighered.com/quicktakes/2019/05/24/national-american-students-surprised-closures
- ^https://rapidcityjournal.com/news/local/purchase-of-former-nau-campus-ok-d-by-city-committee/article_ee10b41a-2664-57f1-b6e3-a851271b294b.html
- ^https://www.kansascity.com/news/local/article231227038.html
- ^https://www.educationdive.com/news/as-national-american-u-faces-possible-closure-ed-dept-tightens-oversight/552830/
- ^https://rapidcityjournal.com/news/local/nau-closing-rapid-city-other-campuses/article_617c7935-3b52-51b9-bbb1-b2a5a9b76874.html
- ^https://www.argusleader.com/story/news/business-journal/2019/03/25/national-american-university-sioux-falls-close-classes-shift-online/3266588002/
- ^'For Profit Higher Education: The Failure to Safeguard the Federal Investment and Ensure Student Success'. U.S. Senate Committee on Health, Education, Labor, and Pensions. pp. 671–692. Archived from the original(PDF) on 29 July 2012. Retrieved 9 August 2012.
- ^https://www.sec.gov/Archives/edgar/data/1399855/000165495418003705/nauh_10q.htm
- ^'Higher Learning Commission'.
- ^'Home'. 9 September 2016.
- ^https://collegescorecard.ed.gov/search/?name=national%20american%20university%20&sort=advantage:desc&page=1
- ^'National American University Holdings Inc'.
External links[edit]
- Official website
Retrieved from 'https://en.wikipedia.org/w/index.php?title=National_American_University&oldid=900872973'
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Most Recent Customer Review
★★★★★
This 'school' is a complete fraud! I spent 17 months with this place, going for my associates degree! Once winter quarter was to begin, within mere days (Dec 1,2016), I was notified that they were dropping me (Nov 28, 2016), because I was still paying on my account, they didn't want me to suffer financially by accruing more debt, but was told to get a ********* additional loan, so that I didn't have to worry about owing them, and could resume with a -0- Balance., that they would be more than happy to bring me back. Well upon looking at where and how my financial aid was disbursed, it showed that I withdrew on Nov 21,2016. Which was an absolute lie, I was doing finals at that time. The Campus Director phoned me on the 28th of November, and not once mentioned me withdrawing previously, this was supposed to be me taking a quarter break! Now, explain to me, how is it someone is trying to get advise on how to get there study materials for an upcoming quarter, if in fact they are withdrawn??? I will be contacting an attorney as well as **** regarding their practices and how they literally stole money, and drop people who are trying to make their lives better.. WHAT A JOKE THIS PLACE IS!!!! I have emails PROVING I was still ( or under the assumption) attending that school.... Read More