Investors Buy Private Dana College in Neb.

Associated Press

March 17, 2010

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. 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, said group spokesman Tony Pals.

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