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STEUBENVILLE -- Eastern Gateway Community College is exploring a potential deal that could bring Argosy University into the fold, provided it "is in the interest of our college and community," EGCC President Jimmie Bruce said Tuesday.
In a late afternoon statement, EGCC officials said the college was "presently in conversation" with the nonprofit Dream Center Educational holdings, which owns Argosy and South Universities as well as the Art Institutes. Dream Center filed for receivership in federal court last week.
Bruce said EGCC was approached last summer to "see if it could assist in a restructuring of Argosy University."
"The approach was made because of the national reach of our very successful online programs," he said in the statement. "The board of trustees directed that we explore a potential transaction to see if something could be structured that was in the interest of our college and community. This in no way effects our present students, faculty and staff."
The Ohio Attorney General appointed a special counsel to assist EGCC in the negotiations, he said. EGCC also has had direct discussions with senior officials at the Department of Education.
"Discussions and diligence are ongoing, and we hope they will conclude with a structure that best serves the students of Argosy and the strategic mission of EGCC," Bruce had said, adding an announcement would be made once discussions are finalized.
Bruce said the idea is intriguing, both in terms of programs and curriculum as well as job creation.
"I know Argosy has a lot of two-year associate degree programs as well as bachelor degree programs," he said. "(And) I think it would bring some jobs to the EGCC service district. From the beginning, that's why we've had some interest -- more job creation, academic and curricular content."
He said EGCC's online learning program has been wildly successful -- starting out in 2015 with about 170 students and growing steadily.
"Over the last couple of years, several semesters, we've actually increased that to about 15,000," Bruce said. "It was surprising, but I think it's due in large part to the partnerships and relationships we've built. I think people heard about that, that's why they reached out to us -- we've (accomplished) something that's not normal, it's really unusual to grow part of a college that quickly, to get that big that quickly."
EGCC's spring semester enrollment is currently around 18,000 -- that's about 15,000 online students, and about 1,000 each on the Steubenville and Youngstown campuses, with high school students taking college-level classes accounting for the balance.
Bruce said there's still a lot that has to be determined, including if and how a potential deal could be structured in a way that would benefit EGCC. "We don't have all the answers yet. Those details and discussions are ongoing," he said.
He said they're also looking at the potential downside.
"We are exploring that right now," he said. "The board of trustees directed me to hire special counsel, which we've done. The board won't do anything if it's not in the best interests of EGCC and its mission. Right now, we're just looking and exploring (options.) No decision will be made until we're sure it's in the interests of the college.
"There's a lot (we) don't know yet. I certainly think there's some opportunity here, but we need to explore it, legally and financially, to make sure our board has all the facts."
Bruce concedes it's "gratifying" to have been approached.? "We've been able to do some interesting things the last couple of years and we've been able to grow because of it," he said. "We've had great success. It's nice to know people beyond our service area recognize that and want to partner with us. I'm proud of what our team has done, now we just have to see how the opportunity plays out."
(Harris can be contacted at lharris@heraldstaronline.com)