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Some Relief For Apollo Group, But Accreditor Still Has Questions

NEW YORK -(Dow Jones)- Apollo Group Inc.'s (APOL) University of Phoenix has received notice from its accrediting body that the group had found no apparent evidence the school misrepresented itself to students or that admissions, recruiting and financial-aid procedures were inadequate or inappropriate. Still, the Higher Learning Commission said there remain "significant questions" and areas the school should try to improve. The questions relate to student-loan default prevention efforts, career services for students pursuing associate's degrees and in other programs, financial-aid advising and student retention. According to a securities filing, Apollo learned of the group's findings on Monday. It is scheduled for a comprehensive visit from the accreditor in March 2012, at which point the group will review those concerns. Schools must be accredited by one of a handful of government-approved bodies, such as the Higher Learning Commission, in order for their students to be eligible for federal financial aid. Apollo derives nearly 90% of its revenue from such aid. Apollo first disclosed in August that the accreditor had sent a letter asking for information on the school's compliance with accreditation standards. The request was sent in the wake of a U.S. Government Accountability Office investigation that found representatives from a number of for-profit colleges, including University of Phoenix, using aggressive tactics to enroll new students. In late March, Apollo received a letter from the Higher Learning Commission saying material the school provided had raised "a number of questions" about how the school hires and trains admissions and financial-aid officers, as well as what information it shares with students regarding enrollment, academics and job placement. -By Melissa Korn, Dow Jones Newswires; 212-416-2271; melissa.korn@dowjones.com

Stock News for Apollo (APOL)
DateTimeHeadline
03/27/201519:06:42Apollo Warns, Get Out Of For-Profit Education Now
03/25/201512:12:02Why Shares of Apollo Education Group Crashed Today
03/25/201511:41:42MARKET SNAPSHOT: U.S. Stocks Lower Amid Low Trading Volumes...
03/25/201511:03:48MARKET SNAPSHOT: U.S. Stocks Lower Amid Low Trading Volumes...
03/25/201510:23:33MARKET SNAPSHOT: U.S. Stocks Drift Lower Amid Low Volumes
03/25/201510:11:22Apollo Education Swings to Loss as Enrollment Declines-- Update
03/25/201509:41:28MARKET SNAPSHOT: U.S. Stocks: Futures Struggle Amid Low Volumes
03/25/201509:11:24Premarket Gainers / Losers as of 9:10 am
03/25/201508:25:00Apollo Education Group (APOL) Q2 2015 Results - Earnings Call...
03/25/201507:54:36Quarterly Report (10-q)
03/25/201507:47:00Apollo -12.68% after earnings
03/25/201507:37:43Current Report Filing (8-k)
03/25/201507:32:36Apollo beats by $0.06, misses on revenue
03/25/201507:30:00Apollo Education Group, Inc. Reports Second Quarter Fiscal Year...
03/25/201507:00:42MARKET SNAPSHOT: U.S. Stocks: Wall Street Keeps A Nervous Eye...
03/25/201506:11:52MARKET SNAPSHOT: U.S. Stocks: Wall Street Keeps A Nervous Eye...
03/23/201518:09:00University of Phoenix and the ASIS Foundation Partner to Award...
03/08/201505:51:35Investors Should Stay Clear Of Apollo Education
03/05/201511:48:00National Retail Federation and University of Phoenix® Offer...
03/04/201516:46:13Statement of Changes in Beneficial Ownership (4)

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