University of Phoenix Closing 115 Locations (Inside Higher Ed)
… The news accompanied the release of Apollo's disappointing fourth-quarter earnings, with a 10 percent decline in annual revenue and a 15 percent dip in enrollment at Phoenix. The company also announced the elimination of 800 jobs, but not faculty positions. Phoenix last week introduced a tuition freeze for current and incoming students.
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Wednesday, October 17, 2012
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3 comments:
GOOD
The closing of any busines in this economy is unfortuate, even if it is our competition. 800 lost jobs will trickle down to thousands of others and impact many lives.
6:53, evidently, you are unfamiliar with some issues in higher education, including the massive “bubble” being created by the high degree of loan defaults among “for profit” institutions such as Phoenix. See here for starters: “Students at for-profit institutions represent only 9% of all college students, but receive roughly 25% of all Federal Pell Grants and loans, and are responsible for 44% of all student loan default.”
Who pays for these defaults? The taxpayer, that’s who. Who defends Phoenix and their ilk? Republicans. As usual, defending rich guys at taxpayers' expense.
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