March 11, 2019
The State Council of Higher Education for Virginia (SCHEV) has been notified that Dream Center Education Holdings, the parent company of Argosy University, announced the school’s closure effective immediately. The closure affects approximately 470 students attending Argosy University – Northern Virginia in Arlington and comes days after the U.S. Department of Education (USED) terminated the school’s participation in federal student aid programs on February 27.
Students understandably may have questions about the following topics:
Students were invited to attend Transfer Fairs on campus Thursday, March 7 and Friday, March 8, 2019, and Dream Center Education Holdings has published a list of partner institutions on its website at www.dcedh.org/partner-institutions
Additionally, students displaced by school closures can explore their options at NextStepsEd (www.nextstepsed.org
), an online ticketing portal funded by the Lumina Foundation. SCHEV makes no endorsement of their advising, and we encourage all students to contact Virginia institutions to discuss the transferability of credits earned at Argosy University – Northern Virginia.
In February, the USED announced it would cancel any federal debt students acquired to pay for the spring semester at Argosy University. USED personnel will contact eligible students and post further information at https://studentaid.ed.gov/sa/about/announcements/dream-center
If currently enrolled students did not have the opportunity to complete their program because of Argosy’s closure, they may be eligible for a complete discharge of their federal student loans. (If Argosy students transfer to another school for the purpose of completing the program for which they took out a loan while at Argosy, they will not be eligible to receive a closed school loan discharge.) More information is available at https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/closed-school
STUDENT ACADEMIC AND FINANCIAL RECORDS
At this time, Argosy University has not provided specific information to SCHEV about where student academic and financial records will be permanently housed. Argosy officials report that the registrar’s office on the Arlington campus will remain open until March 15, 2019, and current students can obtain unofficial copies of their transcript through the Argosy University Student Portal. Additionally, Argosy University will mail official transcripts and diplomas (where appropriate) to all current students free of charge.
Current and former students who want to obtain official transcripts should print and complete the Transcript Request Form available at www.argosy.edu/closed-school-information
. The signed form and payment information should be mailed to:
Dream Center Education Holdings
ATTN: Academic Operations Department
1400 Penn Avenue
Pittsburgh, PA 15222
Mailed requests typically require three (3) weeks processing time.
February 28, 2019
On February 27, 2019, the U.S. Department of Education (USED) notified Argosy University that the school’s participation in the federal student aid programs was terminated effective immediately. USED took this step because Argosy does not meet certain standards, including administrative capability and financial responsibility. Argosy’s failure to pay credit balance refunds owed to its students demonstrates that Argosy cannot meet the required standards.
This denial decision applies to Argosy’s campus in Arlington, which means that students cannot receive future federal student aid if they continue to attend this school. If
the school closes, current Argosy students may be eligible for a 100% discharge of their federal loans if:
• The school closes while they are enrolled, and they don’t complete their academic program because of the closure, or
• The school closes within 120 days after they withdraw.
If students want to explore transfer options, they should note that it is up to the transfer institution to decide how many credits will be accepted. SCHEV staff are currently working to create a list of nearby institutions that offer comparable programs, which we will share with all Argosy students as soon as it is available. Students also can check out www.CollegeScorecard.ed.gov
to explore their transfer options.
More information about this most recent development and how it might impact Argosy students is available at www.studentaid.ed.gov/sa/about/announcements/dream-center
February 25, 2019
SCHEV has been notified that Los Angeles-based Dream Center Education Holdings, the parent company of Argosy University, was recently placed on Heightened Cash Monitoring 2 (HCM2) status by the U.S. Department of Education (USED). The decision by USED sometimes places a financial burden on a school. The media and SCHEV have received reports from students that they have not received their financial aid stipends from the school. The situation affects the approximately 470 students attending Argosy University in Arlington, VA.
Stipends and financial aid
The most recent information from the USED is that it will cancel any federal debt students acquired to pay for the spring semester. USED personnel will contact eligible students and post further information on its website (www.ed.gov
) in coming days.
Transcripts and Student Financial records
Argosy University administrators at the Northern Virginia campus have informed SCHEV that a copy of each student's transcript will be mailed to them free of charge. Current students should log in to the Argosy Student Portal and confirm that their address is correct.
Students also can obtain additional copies of their unofficial transcript or financial ledger card via the Argosy Student Portal. To print unofficial copies of student transcripts, log in to the Student Portal and select the "My Academics" tab. For financial information, go to "My Finances" and select the "My Account" tab. If students have additional questions about their academic or financial records, they should contact Argosy University directly at 703-526-5800.
SCHEV is monitoring closely the situation with Argosy University. Our hope is that the school will weather this financial difficulty. However, should the school close, SCHEV will work with the school’s accrediting agency and USED to find solutions for the displaced students. At this time, we have no specific information about transfer or teach-out possibilities. Please monitor this website for additional information as it becomes available.