Thanks to Valerie Strauss for reporting that the University of Phoenix is experiencing a huge enrollment decline and a consequent drop in its profitability and stock price. I am not at all sorry to see this, as I am not an aficionado of online “colleges” or for-profit education institutions.
The University of Phoenix, the largest for-profit university in the United States, has lost a few hundred thousand students in the last five years, according to its parent company.
Apollo Education Group, which owns the University of Phoenix, announced Wednesday that revenues and enrollment had fallen in the last quarter about 14 percent compared to the same period in 2014. What’s more, the school’s enrollment five years ago was 460,000 students and now it is 213,000, CNN Money reported. The news on Wednesday sparked a 30 percent drop in Apollo’s stock. (Apollo stock was at $19.57 a share in…
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