The Fashion Institute of Design & Merchandising in Los Angeles was about to lose is accreditation. Arizona State University bought the school and is now rebuilding.
The halls in the enormous building are a little quieter these days with the upcoming fall semester expecting only 147 fashion and design students who will be studying at the downtown campus that once saw as many as 3,280 full-time students, including well-known L.A. designersby Arizona State University for $15 million even though its assessed value was $52.7 million.
Because ASU didn’t want to take over FIDM’s creative business classes, the legacy fashion school continues to teach those classes in a nearby office building to have the last of its 400 business-oriented students graduate in March.The old FIDM thought it had a deal for the Skema Business School in France to assume the classes. But that deal fell apart at the last minute earlier this year. Now it is hoping another educational institution takes over the creative business classes.
Last year, the Art Institutes, a nationwide network of private art schools, closed its remaining eight campuses, including those in Dallas, Houston, Miami and Atlanta, due to a nearly $100 million Department of Justice judgment against it for misleading students about its post-school career salaries and prospects. The campuses also faced declining enrollment and mounting debt.
Looking to address falling enrollment, the legacy fashion school closed its satellite campuses in San Francisco, San Diego and Irvine, Calif., after the institution projected a $10 million loss in fiscal-year 2020-21. The following year, a $5 million loss was foreseen as well as a $1.6 million loss expected in fiscal year 2022-23. The fashion school also had a long-term $28 million debt scheduled to mature in fiscal year 2024, which happens to be the same sum ASU paid for FIDM.
ASU has some unique offerings, including two different research projects at its Arizona campus focused on sustainability. While at the L.A. campus, students saw Professor Deborah Young demonstrate how to use the school’s textile testing lab. They toured the ASU FIDM library and saw its extensive resources, including decades of bound Vogue magazines, an archive of trend forecasts and years of research.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Learn how to camp in Arizona with help from Arizona State Parks & TrailsLATEST FROM ABC15's KALEY O'KELLEY:
Lire la suite »
Kansas State Faces An Easy Opponent In Arizona State In The 10th Game Of The SeasonA home game against Arizona State should be fairly easy for Kansas State and allow the Wildcats to recharge their batteries for the final two weeks of the season.
Lire la suite »
Swing-state Arizona likely to return to historic role as Republican-leaning stateToday's Video Headlines: 07/20/24
Lire la suite »
2024 Arizona Cardinals season: New menu options at State Farm State Farm StadiumNicole Gutierrez is ABC15's ‘Things to Do’ reporter, focusing on stories highlighting local community gems, family attractions, restaurants and local haunts.
Lire la suite »
Why Ohio State’s historic wide receiver run is just getting started: State of the ProgramEvaluating Ohio State football's wide receiver room heading into a pivotal 2024 season.
Lire la suite »
Penn State Football: Why Isn't Penn State Dominating Pennsylvania Recruiting?Eight of Pennsylvania's top 10 football recruits have committed to schools other than Penn State for the 2025 cycle.
Lire la suite »