October 13, 2006

Sierra Nevada College Gets Cash Infusion

By MARTIN VAN DER WERF

Sierra Nevada College, a struggling private liberal-arts college, has agreed to accept an infusion of cash from the Knowledge Universe Learning Group, the same company that includes Cardean University, an online for-profit institution. In return, Knowledge Universe will obtain a degree of authority over Sierra Nevada that it says falls short of direct ownership.

Knowledge Universe, an investment group headed by Michael Milken and his brother, Lowell, will assume all the debts of the

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