Loss of Accreditation
On 30 June 2010, Dana College's request for change of control was not accepted by the Higher Learning Commission of the North Central Association of Colleges and Schools after the school was to be bought by Dana Education Corp. and the Nebraska Higher Education Corp., a for-profit company. After the soon to be owners discovered that the approval was not granted they forfeited the sale. The Dana Board of Reagents decided not to continue operating the school, citing a multi-million dollar deficit. Students were offered the ability to transfer the University of Nebraska at Omaha and Grand View University in Iowa through formal teach-out plans.
The school was denied a transference of accreditation because the Higher Learning Commission of the North Central Association of Colleges and Schools ("HLC") stated that the college had failed to meet the requirements for transferring accreditation to a new owner.
Following the news of the Higher Learning Commission's denial, Dana's board speculated that the decision was politically oriented. In the weeks prior to HLC's decision regarding Dana, the President of HLC was questioned by Congress in regards to a decision pertaining to another for-profit college.
Dana's sister college, Midland University, offered Dana College students free room and board for one year, they will match the financial aid package each student received and they will ensure that all credits transfer. Kentucky Christian University as well as Concordia University, Nebraska also have made available transfer opportunities for all Dana College students. Dana's legacy alumni affairs efforts are being incorporated into a Dana College Foundation, which will remain based in Blair, Nebraska.
The University of Phoenix, Kaplan, and ITT Tech have all shown interest in acquiring the former Dana campus. The Omaha World-Herald newspaper has announced as of April 2012 that the campus is being acquired by Allan E. Bauer of Chelsea, Vermont to be used in the teaching of energy conservation and that facilities would be leased out to other institutions for their programs.
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