Penn Foster College
| Company type | Private for-profit |
|---|---|
| Industry | Online education |
| Founded | 1890 |
| Founder | Thomas J. Foster |
| Headquarters | Chandler, Arizona , United States |
Area served | United States |
| Products | Bachelor's and associate degree programs, academic certificates |
| Parent | Penn Foster Group |
Penn Foster College operates as a private, for-profit online educational institution, with its main office located in Chandler, Arizona. Established in 1890 under the name International Correspondence Schools, it provides bachelor's and associate degree programs across 22 accredited disciplines, along with various academic certificates.
History
The institution was founded by Thomas J. Foster, a newspaper editor, in 1890 with the goal of educating coal miners to enhance their career prospects and improve workplace safety. By the early 20th century, it became known as the International Correspondence Schools (ICS), recognized as the first distance education provider in the United States, having reached one in every 27 adults through its courses. In 1904, ICS expanded into the United Kingdom, where it now operates independently as ICS Learn.
In 2005, the organization rebranded itself as Penn Foster and separated its high school and career school divisions into individual entities. Two years later, in 2007, the Wicks Group, a private equity firm, acquired the college from Thomson Corporation.
Penn Foster College was subsequently acquired by The Princeton Review in December 2009. In 2012, private equity firm Charlesbank Capital Partners purchased The Princeton Review’s brand and operations for $33 million, renaming the parent company Education Holdings 1, Inc. The company filed for bankruptcy protection in 2013 but successfully emerged from it within two months.
In December 2015, Penn Foster incorporated a competency-based learning platform originally created by UniversityNow. Later, in 2018, ownership of Penn Foster schools transferred to Bain Capital.
Penn Foster Group
Penn Foster College operates under the umbrella of the for-profit Penn Foster Group, which adopted its current name in 2023. This organization encompasses multiple distance learning brands, including:
- Penn Foster Career School
- Penn Foster College
- Penn Foster High School
- CareerStep
- Ashworth College
- James Madison High School online
- New York Institute of Photography
- New York Institute of Art and Design (NYIAD)
Academics
At Penn Foster College, students can pursue associate and bachelor's degrees along with undergraduate certificates through self-paced online programs. The institution does not participate in federal or state financial aid initiatives, focusing instead on providing cost-effective educational options.
The college holds accreditation from the Distance Education Accrediting Commission (DEAC). Additionally, its Veterinary Technician Associate Degree and Veterinary Technology Bachelor of Applied Science Degree are accredited by the American Veterinary Medical Association (AVMA) via the Committee on Veterinary Technician Education and Activities (CVTEA). Penn Foster College is licensed by the Arizona State Board for Private Postsecondary Education and is authorized to confer Associate of Science and Bachelor of Science degrees as well as undergraduate certificates.