Waldorf started out as an academy and business college, not just a preparatory program for future pastors.

From its earliest days, Waldorf viewed education sponsored by the church as essential for success in society.

[5] In January 2010, the Evangelical Lutheran Church in America sold the college to a subsidiary of Columbia Southern University and it became a for-profit institution.

[11][12] According to the 2019 U.S. News & World Report, Waldorf University is considered "less selective" and had an admissions acceptance rate of 72%.

[14] Waldorf University is home to Iowa Iota, Chapter 364 of Region IV of the Alpha Chi National College Honor Society.

Waldorf University is also an active member in the Kennedy Center American College Theatre Festival.

The university expanded athletics in 2010 by adding men's ice hockey and women's wrestling.