Investors Buy Private Dana College in Neb.

Associated Press:

Dana College will soon join the handful of private colleges that have been sold in recent years and converted from nonprofit organizations to for-profit corporations, The Associated Press reported.
College officials announced Wednesday that a group of investors and an unnamed private equity firm agreed to buy the school in Blair, Nebraska. Terms of the deal, which is expected to close this summer, were not disclosed, the news service said.
Since 2004, 10 other private, nonprofit colleges have been sold and converted to for-profit enterprises, according to the National Association of Independent Colleges and Universities. But that remains just a fraction of the nation’s 1,600 private, nonprofit colleges, group spokesman Tony Pals told The Associated Press.