Laureate Education, Inc. Statement on Public- Private Initiative on College of Santa Fe

May 6, 2009 – Baltimore, Maryland – Laureate Education, Inc. confirmed that it continues active discussions with the College of Santa Fe, the state of New Mexico, and the city of Santa Fe on a public-private partnership initiative that, if successful, would save the college from closing its doors.  

Under the plan, the College of Santa Fe would operate under the ownership and management of Laureate or a related entity.  Laureate owns and/or operates an international network of universities throughout North America, Latin America, and Europe and also in Asia through Laureate Education Asia, Ltd.  Together, these independently branded universities offer undergraduate and graduate degree programs to nearly 500,000 students worldwide.  Laureate brings to its universities and students a global perspective combined with a strong commitment to local culture and community.

“We are excited at the prospect of having the College of Santa Fe join our international network as our global Center of Excellence in the teaching of the arts,” said Douglas L. Becker, chairman and chief executive officer of Laureate.  “CSF's history and reputation in arts education and the vibrant artistic traditions of the Santa Fe community make this an attractive addition to Laureate’s global network of universities.  Our international students studying the arts would benefit from CSF programs and faculty expertise, while CSF would benefit from our financial, human and technical resources which are necessary to make this historic institution viable in the future.  CSF could become an engine of employment and economic growth for the city and the state, while providing CSF students a vibrant, sustainable college offering a unique mix of local and international education.”

Laureate began discussions to acquire the College of Santa Fe a year ago.  Laureate made several proposals to creditors that would have saved the college and kept its doors open to new and returning students. Unfortunately, Laureate had to abandon these negotiations because the college’s major creditors were unwilling to make the concessions necessary for a viable financial plan.  Now, through the leadership of Governor Bill Richardson, Mayor David Coss, and the Santa Fe City Council, there is a last opportunity to save the college.  A number of challenges need to be overcome before the plan can be concluded, including reaching agreement with the college and it’s  creditors; obtaining government and accreditation body approvals; obtaining state legislature approvals; and completing an agreement between Laureate and the city of Santa Fe that is mutually satisfactory.

“I am hopeful that this plan can succeed because of the recent decisive and bold actions taken by city and state officials,” said Mr. Becker.  “I congratulate the governor and his task force, the mayor of Santa Fe, the Santa Fe City Council, and the local community for their determination to find a practical way to save this institution which is such an important part of the cultural fabric of Santa Fe and New Mexico.“  

About Laureate Education
Laureate Education, a Maryland corporation headquartered in Baltimore, Maryland, is a leading international provider of higher education services.  Laureate International Universities is our global network of 43 accredited campus-based and online universities offering undergraduate and graduate degree programs to nearly 500,000 students around the world.  Laureate International Universities students are part of an international, academic community that spans 20 countries and more than 100 campuses throughout North America, Latin America, Europe and Asia.  Laureate International Universities offer more than 130 undergraduate, master’s and doctoral degree programs in fields including engineering, education, business, medicine, law, architecture, health sciences, hospitality, culinary arts, and information technology.  For more information, visit http://www.laureate.net.

 

Media Contact:
Debra Epstein
443-627-7763
debra.epstein@laureate-inc.com