INCLINE VILLAGE -- Sierra Nevada College leaders announced a partnership Tuesday with two private groups they say will infuse the nonprofit college with money and help broaden its online curriculum to attract more students.
The private, liberal arts college founded near the north shore of Lake Tahoe in 1969 will receive up to $15 million over the next five to seven years under its agreement with Knowledge Universe Learning Group LLC and Cardean Learning Group LLC.
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"A year ago, many questioned whether Sierra Nevada College would survive," said Larry D. Large, the college's acting president.
"Today that uncertainty has been replaced with an exciting future that's as deep and clear and inspiring as the college's spectacular alpine setting," he said in a statement.
Knowledge Universe Learning Group develops educational services and products for preschoolers to postgraduates. It is affiliated with Knowledge Universe Inc., co-founded by former Wall Street junk bond trader Michael Milken, an Incline Village resident.
Milken also serves on the board of directors of Stamford, Conn.-based Cardean Learning Group, which develops online education technology.
The new partnership will be phased in over the next few months.
