American InterContinental University (AIU) is a private for-profit university with its headquarters in Schaumburg, Illinois. It employs open admissions. American InterContinental University is a member of the American InterContinental University System. The System is accredited by the Higher Learning Commission. The university awards associate, bachelor's, and master's degrees. The System is owned by the for-profit company Perdoceo Education Corporation, publicly traded on the NASDAQ under PRDO and formerly known as Career Education Corporation (CEC).