University of Phoenix has lost half its students
Apollo’s fast fall is another sign of the decline in for-profit education. Last July, one of Apollo’s former competitors, Corinthian Colleges, shuttered its doors. In 2012, the University of Phoenix closed 115 of its campuses. Once a cash cow industry, for-profit education companies have struggled to overcome criticism of the quality of its education and the costs. They’re the sore spot in the national debate about value of higher education. For-profit colleges only enroll roughly 12% of the country’s students, but students at for-profit colleges accounted for about half of student loan defaults in 2013, according to federal data.
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by Patrick Gillespie, CNN.