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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.

 


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