Ms. Stockwell said that the company planned on investing millions of pounds in the college, with a proposed degree course in English literature and professional writing drawing on the resources of the Financial Times.
“Eventually we hope to end up generating some kind of surplus,” she said.
However, she rejected comparisons with for-profit providers like the University of Phoenix in the United States, which announced recently that it would close 115 locations after being criticized for its recruiting practices, high student debt burden and low graduation rates.“Retention is one of my obsessions,” said Ms. Stockwell.
“The Phoenix model of recruiting through open access just to generate tuition fees wouldn’t work here. Pearson is a 150-year-old company. Our reputation is involved here.”