For-profit education provider DeVry Inc. said fall 2010 new student enrollment declined at some of its colleges, hurt by lower demand. DeVry, along with other for-profit education companies, has been under fire from regulators and the Obama administration for saddling students with big debts and not fully preparing them for jobs. Get the full story »
DeVry
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DeVry warns of slowing enrollment growth
U.S. for-profit education companies DeVry Inc. and Capella Education Co. warned of slowing enrollment growth in the face of an uncertain regulatory environment.
The industry has come under fire from regulators and the Obama administration — and faces possible tougher rules — for saddling students with big debts and not fully preparing them for jobs. Get the full story »
Durbin remarks pressure for-profit colleges
From Bloomberg News | U.S. education stocks are under pressure after U.S. Sen. Dick Durbin (D-Ill.) said industry practices should be curbed. “We need to consider whether it is wise for companies to profit so handsomely on federal funding when the results don’t match the investment,” Durbin said in a statement. “And we need congressional action to rein in abuses and ensure that taxpayer dollars are being wisely spent.”
New loan standards hit for-profit college stocks
U.S. education stocks tumbled Monday after Department of Education data on student loan repayments showed most for-profit schools would be ineligible for federal aid, spooking a sector concerned about increased regulatory scrutiny.
The S&P education services index dropped more than 6 percent to a 22-month low in an overall Nasdaq market that was up 0.4 percent. The sector saw blistering growth in much of last year as job seekers headed back to school to boost their employment prospects after the financial crisis. Get the full story »
DeVry Q4 beats Street on higher enrollments
For-profit education provider DeVry Inc. posted better-than-expected quarterly results, as enrollments rose at its DeVry university and online courses.
For the fourth quarter ended June 30, the company posted earnings of $71.6 million, or 99 cents a share, compared with earnings of $37 million, or 51 cents a share, a year earlier. Get the full story »
For-profit education stocks slide
Shares of for-profit education companies slipped Friday after American Public Education Inc. slashed its third-quarter outlook and said its guidance for the full year shouldn’t be relied upon, as increased operations activity in the U.S. military is hurting its net course registrations. Get the full story »
DeVry expands program to boost graduation rates
From Crain’s Chicago Business | Downers Grove-based DeVry Inc. will donate $1.5 million over three years to America’s Promise Alliance, a national youth development group founded by former General Colin Powell.
Riehs to head reorganized DeVry unit
For-profit education provider DeVry Inc. said Friday that it appointed Steven P. Riehs president of K-12, Professional and International Education, starting Oct. 1.
Riehs will oversee a new organizational structure within DeVry that includes Advanced Academics, Becker Professional Education, DeVry Brasil and the company’s other international operations. Get the full story »
Senate scrutinizes DeVry, other for-profit colleges
Democratic senators sharply questioned Thursday whether for-profit colleges reaping huge amounts of federal aid dollars are delivering on promises to students and taxpayers.
The fast-growing for-profit college industry has faced increased scrutiny in recent months and is fighting greater government regulation, which it says will cut off access to education at the worst possible time. Get the full story »
DeVry, Career Education, Apollo Group stocks rise
From Bloomberg | Education stocks rose after the Chronicle of Higher Education reported that U.S. Education Deputy Undersecretary Robert Shireman will step down. Apollo, the biggest U.S. for-profit education provider, advanced 9.9 percent to $57.98, while Hoffman Estates-based Career Education Corp. jumped 8.7 percent to $31.35, and Oakbrook Terrace-based DeVry Inc. gained 4.9 percent to $62.03.
Get the full story: businessweek.com.
DeVry, other for-profit educators under fire
Dow Jones Newswires | For-profit education companies were under pressure Thursday after a U.S. Department of Education official did an about-face and bashed the companies and the accreditation process in a speech late Wednesday, allegedly comparing the sector with Wall Street firms whose actions brought about the financial turmoil of the last few years.
In a speech to state regulators who oversee for-profit colleges, Robert Shireman, the man behind the Education Department’s strategy, called out the colleges one by one for the increasing amounts of federal student aid money they’re getting, according to an article in industry publication Inside Higher Ed.
