UF Taps Firm To Launch Online Four Year Degree Program

GAINESVILLE (CBSMiami/AP) — In an effort to launch the state’s first fully online four year degree program, the University of Florida will pay the company Pearson Embanet an estimated $186 million over the life of its 11-year contract to set up and manage the program.

The Gainesville Sun reports that it pieced together what UF could wind up paying Pearson based on a business plan presented to the Florida Board of Governors in September, two months before UF Provost Joe Glover and Chief Financial Officer Matt Fajack signed a contract with Pearson Embanet CEO and President David Daniels.

Gov. Rick Scott signed a bill last year tapping UF to create an online university that would offer a full, four-year degree program at 75 percent of the tuition that residential students pay.

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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