Defunct for-profit university system that operated nationwide before closing in 2019.
Argosy University was formed in September 2001 when Education Management Corporation consolidated three institutions: the American School of Professional Psychology (founded late 1970s), the Medical Institute of Minnesota (established 1961), and the University of Sarasota (founded 1969). The university operated as a private for-profit institution with campuses throughout the United States. In November 2017, Education Management Corporation sold Argosy to Dream Center Education Holdings, a Los Angeles-based Pentecostal organization, though the sale faced regulatory scrutiny.
Argosy faced significant regulatory challenges throughout its operation. In 2010, the Government Accountability Office named Argosy among 15 schools for deceptive recruiting practices. Multiple state attorneys general investigations resulted in settlements: Colorado (2013, $3.3 million) and Texas (2013, $3.3 million) for deceptive marketing regarding accreditation and licensing eligibility. In November 2015, the parent company agreed to forgive over $100 million in student loan debt. By 2019, the university faced financial crisis, mishandling $9+ million in federal student aid. On February 27, 2019, the U.S. Department of Education cut off federal funding. All campuses officially closed on March 8, 2019.
Argosy offered programs across multiple disciplines including psychology, business, education, and health professions. The university operated Western State College of Law at Argosy University (Irvine, CA), renamed in 2012. Programs ranged from undergraduate to doctoral degrees, with particular emphasis on professional psychology and clinical training. However, accreditation challenges plagued several programs, particularly the clinical psychology offerings at the Dallas campus.
According to the College Scorecard, Argosy Online's 2018 graduation rate was 6 percent. Following closure, numerous institutions including Concordia University Texas, Walden University, Indiana Wesleyan University, and DeVry University worked to help Argosy students complete their degrees. In 2022, Argosy was included in a class-action settlement involving 200,000+ student borrowers for alleged fraud, with the Supreme Court approving debt cancellation in April 2023.