2U, Inc. Announces a 12-Year Contract Extension with Washington University in St. Louis School of Law
LANHAM, Md., July 10, 2018 – 2U, Inc. (Nasdaq: TWOU), a global leader in digital education, announced today that it has extended its contract with the Washington University in St. Louis School of Law (Washington University School of Law) by an additional 12 years. The partnership between 2U and the school now goes through 2033.
As part of the contract extension, 2U and Washington University School of Law will partner on a new online degree offering: a Master of Laws (LL.M.) in Taxation. The online Tax LL.M. degree will become the fourth 2U-powered offering at Washington University School of Law. The new offering joins the @WashULaw program portfolio, which includes a Master of Legal Studies for non-lawyers; a Master of Laws in U.S. Law for international attorneys; and a dual LL.M. in U.S. Law and Transnational Legal Practice, also for international attorneys, from both Washington University School of Law and Tecnológico de Monterrey's School of Government and Public Transformation.
“2U has been a true partner to us, helping Washington University School of Law deliver our top-quality legal education online, providing unwavering support to our students and faculty, and expanding our global reach to 49 countries,” Dean and Howard & Caroline Cayne Distinguished Professor of Law Nancy Staudt said. “Our extended partnership agreement, together with the addition of the new online Tax LL.M. degree, will help to ensure that we remain a leader in preparing both lawyers and non-lawyers with the necessary legal knowledge to grow and achieve more in their respective fields, regardless of where they live.”
“We are thrilled to both extend and broaden our relationship with Washington University School of Law, one of 2U’s longest-standing partners,” 2U CEO and Co-Founder Christopher “Chip” Paucek said. “Today’s contract extension and the new degree announcement are powerful examples of our shared success model at work. Great digital education starts with quality student outcomes, but can only be sustained by a partnership like ours that also delivers true value to the university.”
The LL.M. in Tax will be designed to provide a rigorous course of study in the complex field of tax law to those with a Juris Doctor (J.D.) degree. The degree will aim to provide specialized training and prepare attorneys and law school graduates with the skills to practice tax law. This degree will match the quality and rigor of the on-campus degree. Washington University School of Law’s faculty will teach students through weekly live classes and faculty-developed interactive coursework on a digital platform that works seamlessly on mobile devices. The degree will consist of 24 credits (eight courses) and can be completed in one year. Students will also have the option of attending part time and completing the degree in two years.
Under the new agreement, 2U provided economic consideration to Washington University School of Law that, over time, will reduce 2U’s effective revenue share. Over the remaining 15 years of the agreement, 2U believes its effective revenue share will remain within the range of revenue share percentages it typically receives under its agreements.
Pending university approval and American Bar Association (ABA) acquiescence, classes for the online LL.M. in Taxation are scheduled to begin September 2019.
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About 2U, Inc. (Nasdaq: TWOU)
2U partners with great colleges and universities to build what we believe is the world’s best digital education. Our platform provides a comprehensive fusion of technology, services, and data architecture to transform high-quality and rigorous campus-based universities into the best digital versions of themselves. 2U's No Back Row® approach allows qualified students and working professionals around the world to experience a first-rate university education and successful outcomes. To learn more, visit 2U.com.
Shirley Chow, 2U