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Updated: 03/31/2014 01:19:02AM

UF to pay company $186 million for online program

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The Associated Press

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

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