SAN DIEGO, July 9, 2015 /PRNewswire/ -- Bridgepoint
Education, Inc. (NYSE: BPI) announced today that Ashford University's Clinton, Iowa campus will close after the
2015-2016 academic year, at the end of May
2016. Despite best efforts to continue maintaining and
operating the campus, the inability to meet campus enrollment
requirements was a key factor in the Ashford
University Board of Trustees' difficult decision to call for
the campus closure.
"It is the priority of both Bridgepoint Education and
Ashford University to provide a quality
education to students," said Chris
Henn, Bridgepoint Education's chief operating officer. "And,
after carefully considering the continued and significant
enrollment shortfall at the campus, Ashford's Board of Trustees
determined that closing the Clinton campus would be the most responsible
course of action. Neither Ashford nor Bridgepoint want to
compromise the campus student experience."
To help facilitate the transition, Ashford is implementing a one
year teach-out plan for the one percent of its students who attend
classes in Clinton. The
University's online students will not be impacted by the closure of
the campus. Remaining open for two more semesters will allow the
approximately 35 percent of existing campus students who are on
track to complete their degrees the opportunity to attend the
May 2016 commencement in Clinton. The University will work with all
other campus students to help them understand their options and the
process for transitioning to another school or to the online
modality.
Approximately 60 percent of returning campus students are
pursuing a degree program that is also available online at
Ashford University, and those students
will be permitted to transfer to Ashford's online modality. For
those campus students who do not choose to complete an Ashford
degree program online, Ashford will be seeking transfer agreements
with nearby colleges and universities that will support their
educational goals and degree programs.
The impacted Ashford campus employees will also have access to
individualized assistance. The University plans to provide each
employee with numerous career service opportunities. Ashford's Iowa
Online Center and its employees will continue to operate from its
current location and will not be impacted by the closure next year
of the Clinton campus.
Moving forward, the University will focus on its online modality
which, it believes, represents the next generation of learning.
Ashford intends to concentrate on its core mission of leveraging
technology to create innovative solutions that advance learning.
Currently, online students account for nearly 99 percent of
Ashford's total student population, and the University intends to
continue serving non-traditional students who want the flexibility
offered by online education.
"We will always be proud of our campus and its many student,
faculty, and staff accomplishments," said Dr. Richard Pattenaude, president of Ashford University. "Ashford has opened the door to
a college education to tens of thousands of previously underserved
Americans, and that is what we intend to continue doing."
About Bridgepoint Education
Bridgepoint Education,
Inc. (NYSE:BPI) harnesses the latest technology to reimagine the
modern student experience. Bridgepoint owns two academic
institutions – Ashford University and
University of the Rockies. Together, these programs, technologies,
and resources represent a unique model for advancing education in
the 21st century. Bridgepoint stands for greater access, social
learning, and exposure to leading minds. For more information,
visit www.bridgepointeducation.com,
www.facebook.com/BridgepointEducation, or call Shari Winet, Vice President of Public Relations,
at 858.668.2580.
About Ashford University
Where heritage meets innovation – that's Ashford University. At
Ashford, students discover relevant degree programs, innovative
technology, and cherished tradition. Ashford offers associates,
bachelor's, and master's online degree programs, allowing students
to balance life by providing the flexibility to do school work
anywhere, anytime. For more information, please visit
www.ashford.edu, www.facebook.com/ashforduniversity,
www.twitter.com/AshfordU, or call Shari
Winet, Vice President of Public Relations, at 858.513.9240
x11601.
Note Regarding Forward-Looking Statements
This news
release contains forward-looking statements, including, without
limitation, statements regarding management's intentions, hopes,
beliefs or expectations. These statements are subject to
risks and uncertainties that could cause actual outcomes to differ
materially from those expressed in or suggested by such statements,
including, without limitation, risks and uncertainties related to
adverse administrative, economic, legislative or regulatory changes
affecting Bridgepoint Education, Inc. and its institutions,
including Ashford University.
Additional information regarding risks and uncertainties faced
by Bridgepoint and its institutions, including Ashford, is included
from time to time in Bridgepoint's filings with the Securities and
Exchange Commission (the "SEC"), including, but not limited to,
Bridgepoint's Annual Report on Form 10-K for the fiscal year ended
December 31, 2014, filed with the SEC
on March 10, 2015, and its quarterly
reports on Form 10-Q and current reports on Form 8-K. You
should not place undue reliance on any forward-looking statements,
which speak only as of the date they are made. Bridgepoint
and Ashford assume no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except to the extent required by
applicable securities laws.
Contact: Shari Winet, Vice
President of Public Relations
858.668.2580 · shari.winet@bpiedu.com
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SOURCE Bridgepoint Education, Inc.