Excelsior College Offers Options to Students Hurt by Argosy University’s Sudden Closure

Students can apply for loan forgiveness and start over again, or seek to transfer credits they have earned to another school with a generous credit transfer policy

Excelsior College is reaching out to thousands of former Argosy University students, reminding them they have options following the sudden closure of the institution amid a federal student financial aid scandal.

The federal government pulled Argosy University from the financial assistance program after the school failed to distribute more than $16 million in federal aid to students. Most experts agree the students will never get the money back. Argosy announced this week it expects to close its campuses across the country.

Excelsior College’s concerns are with the students who now face an uncertain future. They generally have two options. The first is to seek loan forgiveness and start all over again with another institution. For those who already have earned many credits toward their degree, they can entertain the possibility of transferring to another school.

Excelsior College offers a generous transfer policy. Students can transfer up to 117 credit hours for an undergraduate program. The school also awards credit for military training and workplace experience—something many schools do not offer. In addition, Excelsior College allows transferred credits in master’s degree programs. This flexibility is all part of the not-for-profit, regionally accredited school’s mission to provide educational opportunity to adult learners. Excelsior College focuses particularly on those who live in historically underserved communities.

“We want to make sure affected students know they are not alone or without options,” says James N. Baldwin, president of Excelsior College. “Whether they choose Excelsior College or another accredited school, it’s important that these students have an opportunity to complete their college education.”

College officials also noted that Argosy University students looking for a new school should focus on nonprofit, regionally accredited institutions.

Students should also carefully consider what financial aid is available to them as they seek to transfer credits or restart their college journey.

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About Excelsior College

Excelsior College is a regionally accredited, not-for-profit online college focused on helping adults complete their degrees and advance their careers. The college contributes to the development of a diverse, educated, and career-ready society by valuing lifelong learning with an emphasis on serving individuals historically underrepresented in higher education. Founded in 1971, Excelsior meets students where they are— academically and geographically—removing obstacles to the educational goals of adults pursuing continuing education and degree completion. Our pillars include innovation, flexibility, academic excellence, and integrity.