University of Phoenix: Ann Arbor campus among 115 U.S. locations to close
Related story: University of Phoenix closing 8 locations in Michigan; all West Michigan facilities to be phased out
The University of Phoenix will close its Ann Arbor learning center as it shutters 115 campuses and satellite locations across the U.S.
The closing in Ann Arbor is among five in Michigan. Others that will close are in Portage, Walker, Flint, Ann Arbor and East Lansing, according to information provided by MLive Media Group in Kalamazoo. Remaining locations are in Troy, Detroit, Livonia, Clinton Township and Southfield.
According to a report from the Associated Press, the for-profit higher educational company will allow the 13,000 students affected by the closing to transfer or switch to on-line learning.
Also from the Associated Press report:
University of Phoenix currently has about 328,000 students, down from a peak of more than 400,000. Following the closures, it will be left with 112 locations in 36 states, the District of Columbia and Puerto Rico.
The announcement comes as enrollments overall in the for-profit sector are declining after years of rapid growth, even as enrollment in other sectors of higher education rises. Recent federal figures showed enrollment in for-profits fell 2.9 percent in 2011. The sector has faced tighter regulations and more pressure to enroll students who have a better chance of graduating.
The University of Phoenix, organized under The Apollo Group Inc. [NASDAQ: APOL] was trading at $21.35 as the market prepared to close Wednesday. That represents a drop of about 6 percent, or a market cap of about $2.45 billion.
The company reported a 72-percent drop in year-over-year income from continuing operations on Tuesday, according to financial reports.
The company's Ann Arbor location is based at 315 East Eisenhower in the Burlington Office Center. It opened there in July 2003, and by this summer occupied about 9,000 square feet there.
Officials from the Oxford Cos., which manages the property, were not available to comment.
Comments
newsboy
Thu, Oct 18, 2012 : 3:58 p.m.
What does for profit or not for profit mean? Mary Sue Colman and other nonprofit millionaires seem to be doing quite well at making a profit during these tough economic times!
Angry Moderate
Fri, Oct 19, 2012 : 1:17 a.m.
Compare the unemployment rate and average salary for U of M versus University of Phoenix students.
VillageDweller
Thu, Oct 18, 2012 : 1:55 p.m.
I attended a for-profit college for a graduate degree. I did actually learn something and they did seem to be very invested in turning out graduates who were skilled. That being said, I was appalled on a regular basis by the number of classmates I had who were writing at probably an 8th grade level and also by the plagiarism, which was rampant. A classmate even went so far as to plagiarize some of my work from our online classroom. It was reported. So yes, the admission standards are pretty awful.
Charles Buck
Thu, Oct 18, 2012 : 5:06 a.m.
Private equity fund Apollo Group gave $75,000 to Restore Our Future and the limit to Romney's campaign. If elected, Romney will open the federal treasury even wider to these sleazy diploma mills. His family has holdings in the industry. http://usatoday30.usatoday.com/news/politics/story/2012-03-26/romney-for-profit-colleges/53865654/1
PineyWoodsGuy
Thu, Oct 18, 2012 : 2:57 a.m.
I feel for the duped "students," but, truly, it was a Disgusting, marginally ethical, Diploma Mill. Thank the Current Administration for its multimillion $$$ success.
Angry Moderate
Thu, Oct 18, 2012 : 8:03 a.m.
The current administration started a new rule where colleges that have high student loan defaults and bad job placement will be denied federal student loan and GI bill money so they can't rip off veterans and other students at taxpayer expense. Mitt Romney, on the other hand, promotes a scam diploma mill called "Full Sail University" that has connections to some of his big $$ donors.
Sparty
Thu, Oct 18, 2012 : 4:30 a.m.
It expanded significantly in 2003, including opening in A2. GWB was PRESIDENT.
Angry Moderate
Thu, Oct 18, 2012 : 12:30 a.m.
Good. That diploma mill is a gigantic scam that preys mostly on first-generation college students who don't know what they're getting into. They shouldn't be allowed to receive federal student loans backed by the taxpayers.
NCTerry
Wed, Oct 17, 2012 : 11:08 p.m.
[The closing in Ann Arbor is among five in Michigan. Others that will close are in Portage, Walker, Flint, Ann Arbor and East Lansing, according to information] Shouldn't A2 be left out of the list of "others" since they are technically not among the others? It's redundant and pretty clunky - stylistically speaking. It also looks a little like a bad copy and paste job.
YpsiGreen
Thu, Oct 18, 2012 : 4:35 p.m.
You can say that again.
TinyArtist
Thu, Oct 18, 2012 : 4:30 p.m.
Not only redundant, but it repeats itself again.
YpsiGirl4Ever
Wed, Oct 17, 2012 : 11:03 p.m.
Well, guess President Obama restructuring on how FOR-PROFIT education is paid by the Government, is indeed at work here! Don't think A2 will miss University for Phoenix substandard FOR-PROFIT higher education anyway.
steven
Fri, Oct 19, 2012 : 9:01 p.m.
No, OLDTIMER3, you did not, becuase Governor Snyder received all of his degrees at the University of Michigan.
OLDTIMER3
Thu, Oct 18, 2012 : 4:34 p.m.
Didn't I read somewhere that is where our Governor got one of his degrees?
northside
Wed, Oct 17, 2012 : 10:10 p.m.
The faster places like U of Phoenix go out of business, the better for the country. They're ripping students off with low quality classes and meaningless degrees.
Soulful Adrenaline
Wed, Oct 17, 2012 : 9:52 p.m.
The diploma mill bubble is going to burst!
simone66
Wed, Oct 17, 2012 : 8:46 p.m.
Well, they are in this to make a 'profit', with enrollment decreasing, they are closing their campuses. I appreciate the fact that not everyone can attend, or want to attend a traditional brick and mortar not for profit public university, but schools like Univ of Phoenix do not impress me. I would not hire a U of Phoenix graduate over, say, an EMU graduate... the cred is just not up to par.