The state is advising students at Argosy University-Hawaii to obtain their academic and financial records from the school as soon as possible in case it shuts down after its owners filed for receivership.
“The school is still accredited and operating; however students should be aware of the possibility that the school could abruptly close prior to completion of their program,” Hawaii’s Department of Commerce and Consumer Affairs said in a news release today.
Dream Center Education Holdings, which owns Argosy Hawaii, filed for receivership in federal court on Jan. 18 because it couldn’t meet its financial obligations.
The Department of Commerce and Consumer Affairs said that transcripts and financial records “may be relevant and necessary for students to secure financial aid, loan forgiveness or to continue their education.”
Former students are also advised to obtain transcripts and other records they may need, according to DCCA spokesman William Nhieu. Argosy-Hawaii currently has about 800 students, both graduate and undergraduate, he said.
The Hawaii Post-Secondary Education Authorization Program is working with the U.S. Department of Education, Argosy leaders and the college’s accrediting agency to try to minimize disruption to students’ education and prevent a sudden shutdown, state officials said.
“We share the frustration over the inability to tell students anything definitive as it is a fluid and evolving situation that changes daily,” said Bobbi Lum-Mew, program administrator for the HPEAP. “We are working to provide guidance and information on federal student loan forgiveness, transfer credits, and transcripts so that they can make the best decisions for themselves.”
More information and updates are available online at this state website: cca.hawaii.gov/hpeap/main/argosy-university-status-information.
Students may also read HPEAP’s online guidance in case the school closes: cca.hawaii.gov/hpeap/files/2014/11/HPEAP-Closed-School-Guide-for-StudentsOct2015.pdf