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News Breaks
February 26, 2013
10:07 EDTAPEI, COCO, LINC, NAUH, LOPE, ESI, STRA, BPI, EDMC, APOL, CECO, DVApollo falls after being placed on probation by accreditor
Apollo Group (APOL) disclosed in a regulatory filing last night that a team appointed by its accreditor had recommended that the company's main university be placed on probation. The team appointed by the Higher Learning Commission, a regional accreditor, recommended that Apollo's University of Phoenix be placed on probation because the school is not in compliance with regulations related to administrative structure and governance, Apollo reported. More specifically, the team found that Apollo has not given the university enough autonomy. In a note to investors earlier today, William Blair analyst Brandon Dobell wrote that he expects the Higher Learning Commission to uphold the findings of its team in June, and place University of Phoenix on probation until fall of 2014. The university will have to prove to the Higher Learning Commission, or HLC, that it has fixed the issues identified by that time, Dobell reported, adding that the university could lose its accreditation if the HLC determines that it is still not in compliance. While the analyst believes that the University of Phoenix's accreditation status will affect Apollo's shares until the university is removed from probation, he thinks it is "extremely unlikely" that the school will lose its accreditation. Dobell maintained a Market Perform rating on Apollo. He noted that the following for-profit education companies have obtained accreditation from the Higher Learning Commission: Bridgepoint (BPI), DeVry (DV), Grand Canyon University (LOPE); American Public University (APEI); Capella University (CPLA); Career Education (CECO); Education Management (EDMC); National American University (NAUH); Corinthian (COCO); and Kaplan (WPO). In early trading, shares of Apollo are down 24c to $17.59.
News For APEI;CECO;APOL;EDMC;BPI;STRA;ESI;LOPE;NAUH;LINC;COCO;DV From The Last 14 Days
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July 21, 2014
10:32 EDTCOCOCorinthian Colleges confirms appointment of independent monitor
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July 20, 2014
15:51 EDTCOCOEducation Department names team to monitor Corinthian Colleges
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July 18, 2014
08:33 EDTDVDeVry discloses receipt of letter from NY AG regarding ads, marketing
DeVry disclosed in a regulatory filing that on July 15 DeVry Group received a letter from the Office of the Attorney General of the State of New York requesting cooperation with the NYOAG’s inquiry into whether recent television advertisements and website marketing regarding DeVry University may have violated federal and state laws prohibiting false advertising and deceptive practices. The letter requests relevant information from January 1, 2011, to the present to enable NYOAG to make a determination of what action, if any, is warranted. "DeVry Group intends to provide the Office of the Attorney General with its full cooperation with a view toward demonstrating the compliant nature of its practices. The timing or outcome of this matter, or its possible impact on DeVry Group’s business, financial condition or results of operations, cannot be predicted at this time," the company stated.
July 17, 2014
08:05 EDTCECOHLC continues accreditation for American InterCollege University
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July 15, 2014
09:59 EDTAPEI, LOPE, ESI, DV, COCO, CECO, BPI, APOL, STRAApollo Education discloses new Department of Education review
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09:21 EDTAPOLOn The Fly: Pre-market Movers
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07:17 EDTAPOLApollo Education Title IV review not cause for concern, says William Blair
William Blair says Apollo Education's announcement that the Department of Education will conduct a Title IV program review is not a major cause for concern. The firm notes that all U.S. colleges whose students access federal student loans are subject to periodic program reviews of their administration of Title IV funds. William Blair views Apollo's financial aid processing systems and procedures are among the best, if not the best, and keeps an Market Perform rating on the stock.
06:50 EDTAPOLApollo Education Title IV review likely non-event, says Piper Jaffray
After Apollo Education disclosed that the Department of Education will conduct a Title IV program review, Piper Jaffray says such actions are "normal course of business" and not unusual at for-profit institutions. Piper notes that Apollo's last Title IV program review was completed in 2012 with no adverse findings. The firm sees a "high probability" the review will be a non-event and it keeps a Neutral rating on the stock.
July 14, 2014
18:15 EDTAPOLOn The Fly: After Hours Movers
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16:34 EDTAPOLApollo Education down nearly 8% after DoE review
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16:30 EDTAPOLDoE to conduct review on Apollo's University of Phoenix financial aid program
Apollo Education disclosed in a regulatory filing that it has been informed by the U.S. Department of Education that the Department intends to conduct an ordinary course program review of University of Phoenix’s administration of federal student financial aid ,Title IV, programs in which the University participates. The review, which is scheduled to commence August 4, initially will cover federal financial aid years 2012-2013 and 2013-2014, as well as compliance with the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, the Drug-Free Schools and Communities Act and related regulations.

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