Charter College (United States)

Charter College is a network of private, for-profit colleges in the United States. They offer programs in healthcare, business, veterinary science, information technology, and select trade careers. Charter operates campuses in five states and offers certificates, associate, and bachelor's degrees. Fully online programs are available for select programs.

History
Charter College was founded in 1985 by Milton Byrd, former provost of Florida International University and President of Chicago State University with a campus in Anchorage, Alaska. Charter has opened campuses in 14 additional cities and has added online degree programs, as well.

In 2016, Charter Institute was developed to bring the Charter education approach to New Mexico.

In March 2023, the Washington Student Achievement Council listed the college as "at risk" due to its financial status. The college was required to notify all incoming and existing students as well as present a closure plan to the state. The state of Alaska listed the school as financially unsound due to the company's financial status, in July 2023. The school was required to notify all incoming and existing students as well as present a closure plan to the state. In the 2022 fiscal year, the college reported a net operating loss of 5.2 million dollars with a negative cash flow of 6.6 million dollars, further depleting the cash reserves of the company. To mitigate these losses, in January 2023, the college made the difficult decision to execute a reduction in force, cutting roughly 10% of the remaining administrative staff. The college was unable to secure the required surety bond that was requested by the state of Alaska in July 2023 and, after holding a Special Commission meeting, Charter College and ACPE agreed on a new surety bond amount. The college transferred the one million dollars to ACPE in October 2023 fulfilling all additional reporting requirements. The commission voted to remove Charter College from Financially Unsound status in April 2024.

Accreditation
Charter College is accredited by the Accrediting Bureau of Health Education Schools to award bachelor of science degrees, associate of applied science degrees, and certificates. Charter College also holds programmatic accreditation for the Associate of Applied Science in Nursing program from the Accrediting Commission for Education in Nursing.