For-Profit, Investors, Recruitment, Required, University & College - Written by on Friday, July 1, 2011 2:32 - 0 Comments

U of Phoenix: Raises tuition, Enrollment drops, Still Making Plenty of Cash

 

photo courtesy, flickr user: littleli1985

As of July 1, University of Phoenix students are getting hit with 3-5% tuition increases  on classes which generally cost around $1700. Parent company Apollo (APOL) announced the tuition hikes during their Q3 earnings conference call. The increase may come in part as a way to offset enrollment rates which dropped 40.5% this quarter year over year. Angela Gonzales of the Phoenix Business Journal reports,

Greg Cappelli, co-CEO and chairman of Apollo Global, said it has been a tough year for the company. “Our brand did take a hit,” he said. “It’s hard to explain in detail just what a process that is for a university our size to make some of the changes we’ve made.”

Bloomberg’s John Lauerman reports the changes were part of Apollo’s response to scrutiny over questionable recruiting practices by the for-profit education industry. As part of their one year old University Orientation program, prospective students get a free taste of courses and discover whether they have what it takes to be a University of Phoenix grad.

All the bad news seemed baked-in, and Apollo says this might be the bottom of the recruitment abyss they’ve fallen into. Their stock ended the day up about 1.5%. In the end, they beat on adjusted earnings by .18. More good news: Net income for the three months ending May 31, increased $33 million to $212.4 million. Meanwhile, APOL continues its stock buyback program, says 247Wallst.com.

-0—

Read the Phoenix Business Journal full story here.
Read the Bloomberg full story here.
Read the 247WallSt story here.



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APEI22.00  chart-0.05  chart -0.23%
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EDMC0.01  chart-0.00  chart +0.00%
ESI0.358  chart+0.000  chart +0.00%
GOOG829.335  chart+8.415  chart +1.03%
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SCHL41.66  chart-0.24  chart -0.57%
STRA78.33  chart-1.79  chart -2.23%
WPON/A  chart+0  chartN/A
2017-03-29 12:49


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