University of Phoenix Parent, Apollo Group, on Defensive
In a recent article in the Chronicle, it was disclosed that many for-profit colleges are under the microscope in Congress. In recent news, these “institutions” of higher education have been on the defensive having to explain their bold recruiting practices and ridiculously high student-loan default rates.
Most recently, the nation’s largest for-profit higher-education company, the Apollo Group, parent of the University of Phoenix, released a report addressing the current state of higher education in America and the vital role of proprietary colleges and universities according to them.
The 36 Page Report by the Apollo Group
Apollo Group released a report entitled “Higher Education at a Crossroads,” which can be found at their Apollo Group website.
Here are some highlights of the report:
- Education is critical for America. Presently, only 35 percent of the American workforce has attained a four-year college degree.
- Increasing college graduation rates is costly. Using the public higher education system alone to educate the tens of millions of students needed to meet the President’s goals would cost more than $800 billion over the next ten years. Well managed proprietary institutions can meet growing demand for expanded access to higher education at less than half this cost.
- Accredited, proprietary colleges are critical in educating “non-traditional” learners. Today, 73 percent of college students are classified as “non-traditional” by the Department of Education.
- Students at four-year proprietary institutions borrow less than those at traditional private institutions. Non-traditional students have significant borrowing needs due, in part, to their financially independent status.
- University of Phoenix delivers quality education. The University invests significantly in its students’ education and student services. Last year, University of Phoenix produced 90,000 graduates.
- University of Phoenix taking a leadership role. The University has a commitment to students, including a financial literacy program and a free orientation program.
“We are proud of our unwavering commitment to serve the needs of working learners, who have been largely ignored by the traditional higher education system,” said Dr. William J. Pepicello, President of University of Phoenix. “We are dedicated to helping non-traditional students achieve their life and career goals through innovative, quality education. We strive to continually improve, and we are committed to providing the best education and strongest student protections possible.”
Essentially, these points included in the 36 page report, argue that for-profit colleges will be critical to meeting President Obama’s goal. Leading the world in college graduation rates without proprietary colleges would cost taxpayers more than $800-billion over the next 10 years.
Its message is without a doubt clear, Program closures of for-profit universities would jeopardize the president’s improved college grad rates goal.
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