lizzzyyy098

dahneshaulis@gmail.com "Yet in practice, accreditors—who are paid by the institutions themselves—appear to be ineffectual at best, much like the role of credit rating agencies during the recent financial crisis." David Deming and David Figlio in Accountability in US Education: Applying Lessons from K–12 Experience to Higher Education (2016) As a watchdog of America's subprime colleges and a monitor of the College Meltdown , I can tell you that institutional accreditation is no sign of quality. Worse yet, accreditation by organizations such as the Middle States Association , Western Association of Schools and Colleges , and the Higher Learning Commission is used by subprime colleges to lend legitimacy to their predatory, low standard operations.  [Image below: DeVry University uses its accreditation to lend credibility to its brand.] According to the US Department of Education, the Higher Learning Commission (HLC) accredits 946 Title IV schools, including some o...

Summary As a subprime higher education company, National American University Holdings (NAUH) has avoided media and agency scrutiny for years. NAUH has been losing money since 2015, with only severe cost cutting in sight. A former NAUH executive has filed a False Claims lawsuit alleging that the school defrauded the US government. Share price has been at or near $1 delisting price since March 2018. NAUH has mortgaged their real estate assets to stay afloat, to the tune of $8M, a big number for a small cap company. NAUH is underwater, with debt surpassing equity in May 2018. NAUH has delayed submitting its annual report to the SEC. NAUH has only one major investor, T. Rowe Price. NAUH and the Subprime College Crash While subprime college college companies like Corinthian Colleges ( COCO ), Apollo Group (NASDAQ: APOL ), DeVry University (DV), ITT Educational Services ( ESI ), and Education Management Corporation ( EDMC ) made the greatest profits and the greatest losses over the last ...

dahnshaulis@gmail.com [While most of my higher education analysis has been statistical in nature, it’s important to look at qualitative and historical aspects of higher education. The collapse of University of Phoenix is one of those important stories.] From 1976 to the early 2000s, the University of Phoenix established itself as a leader in educational innovation for working adults. Hundreds of the school’s campuses and learning sites dotted the American landscape, conveniently located near interstate off ramps. Phoenix turned hotel meeting rooms and retail spaces into learning centers for busy strivers. For those who could not attend those schools, University of Phoenix created an online presence that was unsurpassed, with small class sizes and working professionals with real world experience as instructors.  Phoenix’s founder John Sperling was considered a genius for bringing education to adult professionals and other nontraditional students. A former universi...

Purdue University Global is not Purdue University. It's far from it. In fact, Purdue University Global is actually the former Kaplan University, a once declining for-profit college with a subprime history. Purdue Global, the real Purdue's subprime cousin, is an open enrollment institution with more than 30,000 working class students. In 2016, then known Kaplan University included more than 6,000 military service members and 5,800 military veterans. The school today still heavily targets them. [Purdue University Global is targeting service members and veterans through Army Times, Navy Times, and Marine Times, using practices that may violate DOD rules.] The faculty, comprised mostly of poorly paid adjuncts, may be good, but not great. There are a handful of small campuses, from South Portland, Maine to Omaha, Nebraska. But most of Global's students are working exclusively online, which enables the school to keep costs down. Purdue University Global's graduation ...

The subprime college crash continues for the seventh consecutive year with little attention from the government or media. Subprime is a more appropriate name than for-profit, because several non-profit schools offer limited value at a high price. Campus closings, steep decreases in enrollment, low student loan repayment rates, low graduation rates, and low returns on investment are strong  indicators of "subprime." University of Phoenix , now part of Apollo Global Management , continues to close campuses. In total, they have closed more than 450 campuses and learning sites. I expect UoPX to close half of their remaining campuses in the next 12-18 months. Art Institutes are closing most of their campuses in 2018 after being taken over by Dream Center Education Holdings .  David Halperin has been covering the story in the Huffington Post, but it has received little attention.  Argosy University , another system of DCEH schools, is teaching out at least 14 ...