South University got good news from its accrediting body, but several other North Carolina colleges remain in trouble over their finances.
The Southern Association of Colleges and Schools Commission on Colleges announced Tuesday that it had removed South University from probation. The commission had placed the chain of colleges on warning status in 2015 and on probation a year later because of concerns over financial resources and financial stability.
South University is based in Savannah, Ga., and operates 11 colleges in nine states as well as an online program. Its lone North Carolina campus, on Premier Drive in High Point, has about 380 students enrolled largely in business and nursing programs.
A year ago, South University was owned by Education Management Corp., a Pittsburgh company that operated for-profit colleges nationally under the names South University, Argosy Institute and The Art Institutes. But the company had been losing students and money, and in 2015 it paid out $200 million to settle claims over its recruiting practices and alleged violations of consumer protection laws.