CNN's Yousef Rafayah, Joe Sterling, Brian Walker, Yesim Comert, Richard Roth and Ivan Watson contributed to this report.

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"It's a name school looking to the private sector, " said Brian Dinerstein, president of Sterling University Housing, a large developer of off-campus housing.

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CNN's Saad Abedine, Anna Maja Rappard, Brian Todd, Nic Robertson and Joe Sterling contributed to this report.

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CNN's Yousuf Basil, Salma Abdelaziz, Mohammed Jamjoom, Elise Labott, Faith Karimi, Joe Sterling, Hamdi Alkhshali, Ivan Watson, Brian Walker and Matthew Chance contributed to this report.

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