Purdue Global has lost $71 million since inception. What’s gone wrong?

AI-assisted summary

Purdue University bought Kaplan University for $1 in 2017, creating Purdue University Global to expand its online presence.

The online university has struggled with profitability, accumulating a net financial position of -$35 million despite recent gains.

Purdue Global spends heavily on marketing and pays significant fees to Kaplan, which operates the non-academic side of the school.

As a public benefit corporation, Purdue Global is exempt from Indiana's public records laws, limiting financial transparency.

This is the first of a three-part series.

WEST LAFAYETTE, IN – When Purdue bought Kaplan University, one of the largest online colleges in the country, the headlines were easy to write.

Purdue paid a nominal fee of $1 in April 2017 to acquire Kaplan’s 32,000