National American University

Last updated
National American University
National American University seal - gold.png
MottoQuality higher education in a caring and supportive environment.
Type Private for-profit online university
Established1941;83 years ago (1941)
President Ronald L. Shape (CEO)
Location
Rapid City
,
South Dakota
,
United States
Colors Navy and Red
Website www.national.edu

National American University (NAU) is a private for-profit online university. It is owned by National American University Holdings, Inc. (NAUH). In 2018, NAU acquired the assets of Henley-Putnam University and now offers strategic security programs. [1] Most of NAU's academic programs are on the 11-week quarter system and have monthly starts. The school is accredited by the Higher Learning Commission. [2]

Contents

History

Originally called "National School of Business" in 1941, National American University changed its name to National College of Business, then National College, before adopting its current name. [3]

In 1996 National American University began developing online courses and degree options for students across the United States and internationally. Online programs include associate's, bachelor's and master's degrees in accounting, business, information technology, strategic security, and health care. Students are also provided access to classes and extensive campus resources including learning resource center services, tutoring services, counseling services, and computer support through a student portal.

In 2012, 53% of NAU's students were studying online, with an additional 17% taking some classes online. [4] In 2018, 77% of NAU's students were studying online, with an additional 12% taking some classes online. [5]

Financial issues and retrenchment

In 2018, NAUH mortgaged real property to secure an $8 million loan which was subsequently paid in full. [6] Campus closings were planned as NAU transitioned to an online university [7] and the NAUH agreed to voluntarily delist from the NASDAQ. [8]

The following year, NAUH announced that "the Company had $0.5 million of unrestricted cash and cash equivalents and a working capital deficiency of $8.7 million. These factors, among others, raise substantial doubt regarding the Company’s ability to continue as a going concern." [9] On February 15, 2019, NAUH announced Thomas Bickart as their new Chief Financial Officer. Bickart was CFO at TCI College of Technology from 2013 to 2016 and later worked at EdisonLearning, Inc. to restructure its operations. In March, the university announced that most of its 24 ground campuses would be closed, except for Ellsworth Air Force Base and King's Bay Naval Submarine Base. [10] [11] [12]

On April 15, 2019, National American University reported that they must post a letter of credit for either 50% ($36.7 million) or 15% ($11 million) of its Title IV awards to continue participating in the program. [13] [14] It faced further pressure with an $800,000 debt payment due the following month and an ongoing federal False Claims lawsuit. [15] [16] NAU's students were surprised that the campuses were closing. [17]

National American University received $1,453,446 under the first round of the 2020 CARES Act, $390,269 under the second round of the Covid Relief Bill, and $207,146 under the 2021 American Rescue Plan. [18]

In October 2021, Minnesota Office Plaza filed a lawsuit against NAUH, claiming that NAUH hid assets to avoid paying $2.3 million in back and future rent. [19]

In January 2022, NAUH reported $8.2 million in assets, $15.9 million in liabilities, and less than $400,000 in cash. In April 2022, NAUH reported less than $50,000 in cash. [20]

In October 2023, NAUH reported no available cash. [21] The school is currently on Heightened Cash Monitoring by the US Department of Education. [22]

Academics

Programs

National American University is organized into four academic divisions:

National American University offers Bachelor of Science degrees, Associate of Applied Science degrees, and diplomas in accounting, management, business administration, allied health, criminal justice, healthcare management, health and beauty management, and information technology. In August 2008, NAU's graduate studies program was renamed the Harold D. Buckingham Graduate School, in honor of the late owner. Graduate degree programs include an M.B.A., a Master of Management degree, a Doctor of Education (EdD), and Master and Doctoral degrees in Strategic Security, Terrorism and Counterterrorism Studies, and Intelligence Management.

Faculty

According to the College Navigator, National American University has no full-time instructors and 172 part-time instructors. [23]

Enrollment

Total student enrollment has declined from 9,519 students in 2015 to 3,398 students in February 2019. [13] In March 2019, National American University announced that it was closing most of its remaining 24 physical locations, including campuses in Rapid City [11] and Sioux Falls. [10] and is now an online university. The College Navigator reports NAU's total enrollment at 1,610 students. [24]

Student outcomes

According to the College Scorecard, NAU's Rapid City campus has a 16 percent graduation rate. Salary after completing ranges from $25,484 (AA in health and administrative medical services) to $56,163 (BSN). Two years after completion, student loan debt borrowers were 31% in forbearance, 26% not making progress, 17% defaulted, 9% in deferment, 8% delinquent, 5% making progress, 2% discharged, and 1% paid in full. [25]

Accreditation

NAU is regionally accredited by the Higher Learning Commission. [26] Several NAU programs are separately accredited by multiple national, educational and professional associations.

Locations

Remaining locations

Closed campuses

Colorado

  • Centennial (Denver Metro)
  • Colorado Springs (North)
  • Colorado Springs (South)

Indiana

  • Indianapolis

Kansas

  • Garden City
  • Overland Park
  • Wichita (East)
  • Wichita (West)

Minnesota

  • Bloomington
  • Brooklyn Center
  • Burnsville
  • Rochester
  • Roseville

Missouri

  • Independence
  • Lee's Summit
  • Zona Rosa (Kansas City)

Nebraska

  • Bellevue

New Mexico

  • Albuquerque (East)
  • Albuquerque (West)

Oklahoma

  • Tulsa

South Carolina

  • Charleston (Joint Base Charleston)

South Dakota

  • Ellsworth Air Force Base
  • Rapid City
  • Sioux Falls
  • Watertown

Texas

  • Austin
  • Georgetown
  • Houston
  • Killeen
  • Lewisville
  • Mesquite
  • Richardson

National American University Holdings, Inc.

National American University Holdings, Inc., was a publicly traded corporation (NASDAQ: NAUH) holding company for NAU and other assets. The corporation is located in Rapid City, South Dakota. [27] National American University Holdings, Inc. is now an "Over The Counter" traded company listed on the OTCQB since January 2019. [28]

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References

  1. ↑ "National American University Holdings, Inc. Announces Closing of the Henley-Putnam University Transaction, Provides Update on Operational Consolidations Other OTC:NAUH". Globenewswire.com. 2018-03-22. Retrieved 2019-10-20.
  2. ↑ "Smart Catalog". National. Retrieved 2020-03-09.
  3. ↑ "About NAU Canada - NAU". National American University. The NAU Story. Retrieved October 18, 2020.
  4. ↑ "For Profit Higher Education: The Failure to Safeguard the Federal Investment and Ensure Student Success". U.S. Senate Committee on Health, Education, Labor, and Pensions. pp. 671–692. Archived from the original (PDF) on 29 July 2012. Retrieved 9 August 2012.
  5. ↑ "Blueprint". Sec.gov. Retrieved 2019-10-20.
  6. ↑ "Blueprint". Sec.gov. Retrieved 2019-10-20.
  7. ↑ "Blueprint". Sec.gov. Retrieved 2019-10-20.
  8. ↑ "Blueprint". Sec.gov. Retrieved 2019-10-20.
  9. ↑ Ben Unglesbee @Ben_Unglesbee (2019-01-24). "For-profit National American U raises doubts about survival". Higher Ed Dive. Retrieved 2019-10-20.
  10. 1 2 Published 3:18 p.m. CT March 25, 2019 (2019-03-25). "National American University in Sioux Falls to close as classes shift online". Argusleader.com. Retrieved 2019-10-20.{{cite web}}: CS1 maint: numeric names: authors list (link)
  11. 1 2 "NAU closing Rapid City, other campuses | Local". rapidcityjournal.com. Retrieved 2019-10-20.
  12. ↑ Associated Press March 26, 2019 — 7:20am (2019-03-26). "National American University transitions to online courses". StarTribune.com. Retrieved 2019-10-20.{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
  13. 1 2 Ben Unglesbee @Ben_Unglesbee (2019-04-16). "As National American U faces possible closure, Ed Dept tightens oversight". Higher Ed Dive. Retrieved 2019-10-20.
  14. ↑ "National American University is latest for-profit chain to face financial turmoil". Insidehighered.com. 2019-04-26. Retrieved 2019-10-20.
  15. ↑ Ben Unglesbee @Ben_Unglesbee (2019-02-26). "Will National American U's online pivot be enough to keep it alive?". Higher Ed Dive. Retrieved 2019-10-20.
  16. ↑ "National American University spells out challenges to investors as student enrollment declines | Local". rapidcityjournal.com. Retrieved 2019-10-20.
  17. ↑ Kreighbaum, Andrew (2019-05-24). "National American Students Surprised by Closures". Insidehighered.com. Retrieved 2019-10-20.
  18. ↑ Seltzer, Rick. "How Much Pandemic Support Is Coming, Part 3". www.insidehighered.com. Inside Higher Education. Retrieved 20 June 2021.
  19. ↑ Ellis, Jonathan. "Lawsuit alleges National American University schemed to hide assets from creditors". www.argusleader.com. Argus Leader. Retrieved 22 October 2021.
  20. ↑ "National American University Holdings, Inc". www.otcmarkets.com. OTC Markets. Retrieved 23 April 2022.
  21. ↑ National American University Holdings, Inc. "Quarterly Report For Quarter Ended August 31, 2023". www.otcmarkets.com. OTC Markets. Retrieved 20 October 2023.
  22. ↑ "Quarterly Report For Quarter Ended August 31, 2023". www.otcmarkets.com. OTC Markets. Retrieved 15 November 2023.
  23. ↑ "National American University-Rapid City". nces.ed.gov/collegenavigator. US Department of Education. Retrieved 20 October 2023.
  24. ↑ "National American University". collegescorecard.ed.gov/. US Department of Education. Retrieved 9 September 2021.
  25. ↑ "National American University-Rapid City". College Scorecard. US Department of Education. Retrieved 26 February 2021.
  26. ↑ "Higher Learning Commission".
  27. ↑ "National American University Holdings Inc".
  28. ↑ "National American University Holdings Inc".
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