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Report: University of Florida to pay company $186 million to manage online degree program

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GAINESVILLE, Florida — 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 (http://bit.ly/1gysElp) 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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