NEW YORK (Dow Jones) -- The U.K.'s higher education system, considered by many a bastion of elitism and guardian of tradition, is rolling out the welcome mat to for-profit college operators. But despite some small investments in the country, it is unlikely many from the U.S. will come calling anytime soon as they remain focused on higher-growth areas such as Latin America.

The U.K. Department for Business, Innovation and Skills announced Monday that the BPP College of Professional Studies, majority-owned by Apollo Group Inc. (APOL), would gain designation as a "university college," a step toward full-fledged university status. The school, which offers degrees in law and business and provides training for accounting exams, could see increased enrollments due to the government endorsement. Unlike many other U.K. schools, which receive government subsidies, BPP can set its own tuition.

"It is healthy to have a vibrant private sector working alongside our more traditional universities," David Willetts, the U.K. government's minister for Universities and Science, said in a statement. "The Coalition Government [of Prime Minister David Cameron] is committed to promoting a wider range of educational opportunities, delivering a more diverse higher education system and matching the skills employers want."

Apollo joined with private equity firm Carlyle Group LP to buy BPP for about $607 million last year, their largest acquisition to date under the $1 billion joint venture Apollo Global. The international education investment company also has holdings in Chile and Mexico and an online school with students worldwide.

A BPP representative said the institution is working on creating a health professions school for subjects such as psychology, nursing and occupational therapy.

Despite Willetts' warm words and U.S. for-profit school operators' interest in expanding abroad to counter slowing growth and increased scrutiny at home, the companies aren't expected to flood the U.K. marketplace any time soon.

Amy Junker, a senior analyst at Robert W. Baird & Co., said the schools may consider the U.K. a little more seriously given its new attitude, but "I'm not sure we'll see tons and tons of companies flock to the U.K." Rather, she said, they may wait and see how BPP fares before making their own acquisitions there.

Instead of rushing across the pond, the companies are expected to continue pushing into Latin America and even Asia, taking advantage of more established open-door policies on for-profit education and populations that skew younger, providing longer-term growth opportunities. A U.K. admissions organization reported applicants increased a record high 11.6% so far this year for full-time undergraduate courses beginning in the fall, but that still puts its expansion rate far below many other regions.

DeVry Inc. (DV) bought a Brazilian school operator in April 2009 and said it is focused there, as well as in India and China. Still, a spokesman said, "That doesn't preclude us from looking in other parts of the world."

Laureate Education Inc., which was taken private in 2007, has a major international presence with operations across Latin America, Europe and Asia. But even Laureate doesn't have a ground campus in the U.K., though it does have a partnership with the University of Liverpool. A Laureate representative didn't respond to a request for comment regarding potential U.K. expansion.