Herzing University, a Wisconsin-based school that has operated for decades as a for-profit institution, has changed its status to non-profit at a time of increased regulation aimed at colleges and universities that operate as for-profit companies.
As reported in the Milwaukee Journal-Sentinel, the move to non-profit status "comes in the wake of new federal regulations on for-profit schools that drew widespread opposition from the industry."  The switch also takes Herzing out of oversight by a Wisconsin state agency.  
Herzing has a student enrollment of approximately 6,000 students in campuses across eight states.
New federal regulations implemented by the U.S. Department of Education will require for-profit schools to satisfy measures for "gainful employment" aimed at establishing that career-oriented programs actually are resulting in graduates obtaining well-paying  jobs in those fields.  The regulations will require schools to demonstrate that their students' annual loan payments back to the school are not more than 20% of their discretionary income or 8% of their total earnings. Failing to meet these "gainful employment" standards can result in schools' losing eligibility for federally funded student loan programs.

The Chronicle of Higher Education reports that the Minnesota attorney general has settled a dispute with Herzing University relating to lack of accreditation over the for-profit school's associate degree program in clinical medical assisting.  According to the Chronicle, "Under the settlement, Herzing must disclose to students the accreditation status of programs it offers in the state, including in advertisements and on its website. The settlement also offers students who enrolled in the unaccredited program options for obtaining certain types of refunds."