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.


2 comments:

Anonymous said...

The strange name "Waldorf" College hearkens back to its origins in Forest City, IA. The college was begun on the 2nd floor of the Waldorf (Astoria) Hotel in town, which was located right next to the railroad mainline.

Anonymous said...

WELS missed an opportunity to shutdown MLC and offer online degrees.