Ancora Education
| For-profit corporation | |
| ISIN | 🆔 |
| Industry | Higher education |
| Founded 📆 | 2013
|
| Founder 👔 | |
| Headquarters 🏙️ | Hurst, Texas |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Ancora Education (also known as STVT-AAI Education, Inc.) is the owner of nine for-profit postsecondary trade school brands in the United States. The company is headquartered in Hurst, Texas and serves more than 12,000 students.[1] Marblegate, a private equity fund, is the owner of Ancora Education.
History[edit]
Ancora Education is a conglomerate of for-profit colleges owned by a private equity firm, Marblegate. Ancora Education was formed in 2013 but its schools have earlier origins. The McCann School of Business and Technology was formed in 1897. Miller-Motte Technical College was founded in 1916. Arizona Automotive Institute was founded in 1968 and Platt College (Oklahama) in 1979. Berks Technical Institute was established in 1982 and the Creative Circus in 1995.[2]
In 2013, Ancora Education acquired Arizona Automotive Institute and South Texas Vocational Technical Institute schools from the failing ATI Enterprises. Four years prior to the acquisition, ATI was purchased by BC Partners, a London-based private equity firm, for $291 million.[3] In 2011, the US Department of Justice filed a complaint against ATI for false claims for student loans, based on their enrollment of ineligible students and false statements to students about future employability. With federal funding cut off, ATI went into a financial tail spin.[4][5][6]Michael Zawisky, ATI executive, became Ancora's CEO.[7] ATI filed bankruptcy amid allegations that it submitted false claims to the US Department of Education. [8] [9]
In 2014, Ancora purchased Platt College from AEA Investors LP.[10]
In 2016, for-profit college chains that received federal funds faced increased government scrutiny. This included Delta Career Education Corporation.[11]For-profit schools like Miller-Motte also received media scrutiny for offering programs that could be attained at a community college at a cheaper price. [12]
In 2018, Ancora acquired Delta Career Education Corporation properties as that corporation faced bankruptcy and accreditation problems at its largest chain of schools, Miller-Motte .[13]Miller-Motte had faced accreditation problems from its accreditor the Accrediting Council of Independent Colleges and Schools (ACICS) since 2011.[14]McCann School of Business and Technology had also faced ongoing lawsuits for selling an unaccredited program in lab technology.[15]
The Delta Education sale to Ancora included campuses of the Berks Technical Institute, McCann School of Business and Technology, Miller-Motte College, Miller-Motte Technical College, Creative Circus and International Schools.[16] Seventeen of those campuses became branches of Platt College (Oklahoma) and were able to get accreditation from Accrediting Commission of Career Schools and Colleges (ACCSC). [17]
In 2019, for-profit colleges, especially those owned by private equity funds, gained increased scrutiny from Senator Elizabeth Warren and Representative Mark Pocan.[18]
In February 2020, Miller-Motte Technical College changed its name to Miller-Motte College.[19]
During the Covid 19 pandemic, Creative Circus moved its school online.[20]Other Ancora Education schools had to suspend classes. [21] In June 2021, on campus programs resumed. [22][23]
By 2021, Ancora's Platt College had received more than $12 million in CARES Act relief funds. Ancora Education also established Ancora Corporate Training as an education partner for Guild Education, a private company that manages educational benefits for Walmart, Disney, Discover Financial Services, and Chipotle.[24]
The National Advisory Committee on Institutional Quality and Integrity (NACIQI), is a panel of experts tasked by the Department of Education to review the performance of accrediting agencies, including ACCSC. In a July 2021 NACIQI hearing, Miller-Motte College was given as one example of an ACCSC school that put consumers in debt and that had received insufficient oversight.[25]
Organization[edit]
Ownership[edit]
Marblegate Special Opportunities Master Fund LP and Marblegate, LTD (a private equity firm) own Ancora Holdings, LLC, the parent company of Ancora Education.[16]
Leadership[edit]
Michael Zawisky has been the CEO of Ancora Education since its inception in 2013. He had previously been Senior Vice President of Accreditation and Chief Operating Officer at ATI Career Training Center (2010-2013), an Executive Director of Kaplan University (2006-2010) and an accreditation specialist at the Accrediting Commission of Career Schools and Colleges (formerly known as ACCST) from 2001 to 2005.[26]
Schools[edit]
- Ancora Corporate Training
- Arizona Automotive Institute (692 students)
- Berks Technical Institute (46 students)
- The Creative Circus (208 students)
- Edge Technical Academy (24 students)
- International Schools
- Platt College McCann School of Business and Technology (3 campuses, approximately 1600 students)
- Platt College (4 campuses, approximately 1000 students)
- Platt College-Miller-Motte Technical College (10 campuses, approximately 6300 students)
- South Texas Vocational Technical Institute (2 campuses, approximately 1170 students)[27]
Accreditation[edit]
Most Ancora Education schools are nationally accredited, either by Accrediting Commission of Career Schools and Colleges (ACCSC) or Council on Occupational Education (COE).
Student outcomes[edit]
According to the College Scorecard, Ancora's largest campus, Miller-Motte in Wilmington, North Carolina, has a graduation rate of 29 percent. Median salaries after attending range from $16,000 to 35,000 depending on the major. Two years after student loan repayment, student outcomes were: 30% in forbearance, 23% not making progress, 20% defaulted, 9% in deferment, 9% delinquent, 7% making progress, 1% discharged, and 1% paid in full.[28]According to the College Navigator, The three-year default rate is 26.2 percent. [29]
See also[edit]
- ATI Enterprises
- Creative Circus
- Delta Career Education Corporation
- For-profit colleges in the United States
- Guild Education
- McCann School of Business and Technology
- Miller-Motte Technical College
References[edit]
- ↑ Vasquez, Michael. "Ex-employees describe predatory playbook". /www.miamiherald.com. Miami Herald. Retrieved 27 June 2021.
- ↑ "Our Brands". www.ancoraeducation.com. Ancora Education. Retrieved 1 August 2021.
- ↑ Unglesbee, Ben. "Private equity's role in the rise — and fall — of for-profit colleges". www.highereddive.com. Higher Ed Dive. Retrieved 10 August 2021.
- ↑ "Government Files Complaint Against Dallas Area-Based For-profit Chain of Schools for False Claims Act Violations" Dept. of Justice Press release, Aug 30, 2012 [1]
- ↑ "Justice Department Files Complaint Against Career-College Company" The Chronicle of Higher Education September 3, 2012 [2]
- ↑ ATI Closed The Door
- ↑ www.che.sc.gov (PDF). South Carolina Commission on Higher Education https://www.che.sc.gov/CHE_Docs/executivedirector/mailouts/January42018Commmeeting/8.02.A_Consideration_of_Initial_License_Ancora.pdf. Retrieved 27 June 2021. Missing or empty
|title=(help) - ↑ Bathon, Michael. "ATI Declares Bankruptcy After Student-Aid Probe". www.bloomberg.com. Bloomberg. Retrieved 2 August 2021.
- ↑ Brickley, Peg (22 January 2014). "For-Profit School Operator ATI Enterprises Files Bankruptcy". Wall Street Journal. Retrieved 2 August 2021.
- ↑ Fleming, Molly. "New owners of Platt College keep school's name". Washington Times. Retrieved 27 June 2021.
- ↑ Stratford, Michael. "Getting Ready for Another Corinthian". www.insidehighered.com. Inside Higher Education. Retrieved 2 August 2021.
- ↑ McAdams, Ann. "Degree of debt: Woman struggles to pay $200k in student loan debt". www.wect.com. WECT.
- ↑ McAdams, Ann. "Accreditation issues threaten Miller-Motte College's future". www.wect.com. WECT. Retrieved 2 August 2021.
- ↑ Dunn, Andrew. "Miller-Motte Technical College has accreditation issues to address". www.starnewsonline.com. Star News Online. Retrieved 2 August 2021.
- ↑ Marroni, Steve (12 July 2013). "Lawsuit filed over Carlisle-based business school's accreditation". www.pennlive.com. Penn Live. Retrieved 2 August 2021.
- ↑ 16.0 16.1 Star, Marlene Givant. "For-Profit Postsecondary Education M&A Poised For Quiet Comeback". Forbes. Retrieved 27 June 2021.
- ↑ Miller, Ben; Flores, Antoinette (6 February 2018). "A Second Status Update on ACICS Colleges". www.americanprogress.org. American Progress. Retrieved 27 June 2021.
- ↑ Halperin, David (17 September 2019). "Warren Probes Private Equity Owners of For-Profit Colleges". www.republicreport.org. Republic Report. Retrieved 2 August 2021.
- ↑ McAdams, Ann. "Miller-Motte College under new ownership". www.wect.com. WECT. Retrieved 6 April 2021.
- ↑ Smiley, Minda; Zanger, Doug. "What Is the Future of Ad Schools?". www.adweek.com. Ad Week. Retrieved 2 August 2021.
- ↑ McAdams, Ann. "WECT Investigates update: Parent gets partial refund after college suspends courses due to COVID-19". www.wect.com. WECT. Retrieved 2 August 2021.
- ↑ "Miller-Motte College Welcomes Students, Faculty, Civic Leaders, Employer Partners And Community Back To Campus". www.chattanoogan.com. Chattanoogan. Retrieved 2 August 2021.
- ↑ Pare, Mike. "Miller-Motte College in Chattanooga goes to in-person classes after nearly 16 months". www.timesfreepress.com. Chattanooga Times Free Press. Retrieved 2 August 2021.
- ↑ "Ancora Corporate Training Partners with Guild Education to Provide Upskilling and Education Opportunities for America's Workforce". www.prnewswire.com. PR Newswire. Retrieved 27 June 2021.
- ↑ Halperin, David (9 August 2021). "Education Department Hearing Exposes Divisions on Higher Ed Abuses". www.republicreport.org. Republic Report. Retrieved 10 August 2021.
- ↑ Miller, Steve (13 August 2014). "A Degree in Debt". www.fwweekly.com. Fort Worth Weekly. Retrieved 3 July 2021.
- ↑ "About Ancora Education". /www.ancoraeducation.com. Retrieved 27 June 2021.
- ↑ "Miller Motte". collegescorecard.ed.gov. US Department of Education. Retrieved 6 April 2021.
- ↑ "Platt College-Miller-Motte-Wilmington". /nces.ed.gov. US Department of Education. Retrieved 1 August 2021.
This article "Ancora Education" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Ancora Education. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
