Student enrollment at University of Phoenix parent Apollo Group nose-dived 42 percent in the three months that ended Dec. 30, and on Monday investors learned that company executives believe it is only the beginning.
The Phoenix-based company expects those figures to fall as much as another 40 percent next quarter, and Apollo could continue to see steep declines for the rest of the year, executives said.
Overall enrollment fell 3.8 percent, compared with a year earlier, to 438,100.
The headline is misleading -- the drop is in new student enrollment. Overall enrollment has dropped also though -- 3.8%. A drop in new student enrollment was expected. UoP had promised to change recruiting practices and it looks like they really have. Unfortunately they needed to combine that with better retention practices and they apparently haven't done that.