Wednesday, January 13, 2010

ELCA College Sold Due To Financial Crisis




Stan Olson, on the far right (for once) -
graduated from Waldorf College,
in his salad days.

ELCA NEWS SERVICE

January 13, 2010

Waldorf College Sold, No Longer Affiliated with ELCA

[Click for larger image] Waldorf College is located in Forest City, Iowa.   
CHICAGO (ELCA) -- Waldorf College, Forest City, Iowa, was sold Jan. 8 to Mayes Education, Inc., a wholly owned subsidiary of Columbia Southern University (CSU).  With its new for-profit status, Waldorf is no longer affiliated with the Evangelical Lutheran Church in America (ELCA).  Based in Orange Beach, Ala., CSU is a for-profit institution and one of the nation's first online universities.

     The sale was prompted by a financial crisis at Waldorf.  In April the Waldorf Lutheran College Association -- the college's governing body -- approved a series of resolutions that moved the school
closer to a possible sale to CSU.