Partnership will allow college to develop online education technology
Sierra Nevada College has announced a partnership with two private groups that officials say will infuse the nonprofit college with money and help it broaden its online curriculum to attract more students.
Located near the north shore of Lake Tahoe, the private, liberal arts college founded in 1969 will receive up to $15 million dollars over the next five to seven years under its agreement with Knowledge Universe Learning Group and Cardean Learning Group.
The partnership will be phased in over the next few months.
College trustees began looking for partnerships with last year when they determined the small school could not survive on endowment funds.
Knowledge Universe Learning Group develops educational services and products for preschoolers to postgraduates. It is affiliated with Knowledge Universe Inc., co-founded by former Wall Street junk bond trader Michael Milken, an Incline Village resident.
Milken also serves on the board of directors of Stamford, Conn.-based Cardean Learning Group, which develops online education technology.
Officials say the partnership will allow Sierra Nevada College to conduct courses online and enhance its goal of achieving one-thousand students by 2014.
