University of Phoenix

How did the institution that we would call career college or trade school transform itself into a $32-billion-a-year business?  Mainly by "milking" the government for profit, and taking advantage of student-loan programs designed to help those on the bottom of the economic pyramid continue their studies beyond high school.  The Apollo Group, which owns the University of Phoenix, derives almost 89 percent of its revenues from the federal government, and Kaplan Higher Education, owned by Graham Holdings (formerly the Washington Post Group), almost 88 percent. ~ Gary Rivlin

The University of Phoenix (UOPX) is an American for-profit institution of higher learning, headquartered in Phoenix, Arizona, United States.  The university has an open-enrollment admission policy, requiring a high-school diploma, GED, or its equivalent as its criterion for admissions, and attained a peak enrollment of almost 600,000 students in 2010.  The university has 112 campuses worldwide and confers degrees in over 100 degree programs at the associate, bachelor's, master's and doctoral degree levels.  It is a wholly owned subsidiary of Apollo Group Inc., a publicly traded Phoenix-based corporation that owns several for-profit educational institutions.

Quotes

• It's the oldest institution of its kind and, as such, many people refer to it as the Harvard of Internet colleges.
  • Nick Campbell (played by Owen Wilson), The Internship (7 June 2013), story by Vince Vaughn, screenplay by Vince Vaughn and Shawn Levy.

• How did the institution that we would call career college or trade school transform itself into a $32-billion-a-year business?  Mainly by "milking" the government for profit, and taking advantage of student-loan programs designed to help those on the bottom of the economic pyramid continue their studies beyond high school.  The Apollo Group, which owns the University of Phoenix, derives almost 89 percent of its revenues from the federal government, and Kaplan Higher Education, owned by Graham Holdings (formerly the Washington Post Group), almost 88 percent.
  • Gary Rivlin, "B.A.s and I.O.U.s: 'Degrees of Inequality,' by Suzanne Mettler", Sunday Book Review in The New York Times (6 June 2014, cited 6 May 2015).

• The University of Phoenix, the publicly traded grand-daddy of for-profit colleges, made headlines a few weeks ago with the revelation that the company's enrollment had dropped 50 percent over the past five years.  …  John Murphy, a co-founder of the University of Phoenix, isn't surprised by any of this news. Murphy argues that the company lost its direction when it abandoned its roots, which were serving working adults, not recent high school graduates.  …  [I]t was the combination of chasing stock prices with the temptation of the open spigot of federal loans.
  • Eric Schulzke, "The rise and fall of the University of Phoenix", Deseret News National (25 April 2015, cited 6 May 2015).

• I am proud to serve as the new president of University of Phoenix, and deeply grateful for the opportunity to build on the legacy of Dr. Pepicello.  University of Phoenix has pioneered change throughout higher education, and I'm excited to lead this groundbreaking and innovative institution.

  I am passionate about higher education and strongly believe in the important role it plays in preparing our future leaders and helping to solve many of our most vexing societal challenges.  I am committed to helping preserve and enhance the investment our students are making in their education, and ensuring they have the support and innovation from University of Phoenix they need to achieve their education and career goals.

  • Tim Slottow, "Welcome to the Office of the President", Phoenix.edu (cited 6 May 2015).

External links

• Official website