Stock values of for-profit higher-education companies plummeted today on Wall Street after the Apollo Group, parent company of the University of Phoenix, predicted a “significant” decline in enrollment — up to 40 percent — next year, according to the Dow Jones Newswires. The Apollo Group also withdrew its previously released financial outlook for the 2011 fiscal year, in light of the increased federal regulation the for-profit sector may face and the “heightened media attention, much of which has portrayed the sector in an unflattering light.”
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2 Responses to For-Profit Sector Plunges on Wall Street Amid Gloomy Outlook on Enrollment and Regulation
11201780 - October 15, 2010 at 11:04 am
Much of the media has focused on the students who defaulted on student loans and are not prepared to be gainfully employed.
Someone in the federal government and the media should take a close look at how poorly paid and poorly treated faculty members who work for these for profit colleges while the CEO becomes a billionnaire.
It would make a sad story for the exploitation of corporate America.
mjfoys1 - October 16, 2010 at 8:56 pm
Perhaps they should be looking at the outrageous expenditures by the Community colleges and elitist schools that are funded by Federal dollars that are 100% unrecovered. I was paid $100 per hour to teach Microsoft courses. that was great for me but really a ridiculous rate. I recieved $75 per hour for A+ related courses.