TAMPA (FOX 13) - Argosy University is planning to shut down for good Friday, leaving hundreds of students in Tampa, and across the country, trying to figure out what this means for their future.
The university is trying to work with other schools to see if students can transfer their credits to another college, but it's still unclear if that will be possible. Students who spoke to FOX 13 said they are upset and frustrated the school gave them such short notice.
For weeks, students began to wonder if the university was in bad shape. Many students who were waiting for stipend checks from their financial aid still had not been paid. According to court records, the school failed to pay out more than $13 million in financial stipends to its students.
According to students, court-appointed receiver Mark Dottore told them the money had to been used to pay university staff instead, saying they would eventually get their financial aid, but that's yet to happen.
And then, on Wednesday, the school notified students via email it was shutting down.
"Argosy University will be unable to continue operations after March 8," the email said.
"It was certainly emotional," student Gene Webster said. "Because there is some exceptional faculty and students here and to perhaps maybe not get to work with those individuals again it can be distressing."
"If the campus is not acquired by another higher education institution, or another institution does not agree to teach out the programs, upon court approval, it will close on Friday, March 8, 2019," the school said in a statement released Thursday. “We are working with students, accreditors, state regulators and the U.S. Department of Education to provide as many options as possible for students, to include transfer to another higher education institution or student loan discharge.”
About 450 students are currently enrolled at Argosy's Tampa campus but more than 17,000 students are enrolled at campuses across the county, including in Los Angeles, Chicago, Atlanta, Dallas, and Phoenix.
As of right now, no other higher education institutions have expressed an interest in acquiring the school.