Aspen University Announces the Distance Education Accrediting Commission has Vacated its Show Cause Directive Effective Immediately
July 22 2024 - 8:00AM
Aspen Group, Inc. ("AGI" or the “Company”) (OTCQB: ASPU), an
education technology holding company, announced today that on July
19, 2024, the Company received notification from the Distance
Education Accrediting Commission (the Commission) regarding its
decision to vacate the show cause directive previously issued to
Aspen University (“Aspen”) on February 1, 2023.
Upon careful review of the record, the Commission determined
that Aspen has made substantial progress toward demonstrating
compliance with DEAC standards. Accordingly, the Commission voted
to vacate the show cause directive. DEAC requested that Aspen keep
the Commission informed on the status of the teach-out of students
who are completing the Nursing Pre-licensure program through
September 2024 and continue providing monthly and quarterly reports
through January 2025.
The Commission also determined that Aspen is making satisfactory
progress in addressing the accreditation standards that remain
under a deferred review of the institution’s application to renew
accreditation. The Commission will proceed to review additional
documentation to be submitted by Aspen for consideration at its
January 2025 meeting.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including our resumption of growth in Fiscal 2025. The words
“believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,”
“should,” “plan,” “could,” “target,” “potential,” “is likely,”
“will,” “expect” and similar expressions, as they relate to us, are
intended to identify forward-looking statements. We have based
these forward-looking statements largely on our current
expectations and projections about future events and financial
trends that we believe may affect our financial condition, results
of operations, business strategy and financial needs. Important
factors that could cause actual results to differ from those in the
forward-looking statements include the availability of cash to
support resumption of marketing, the effectiveness of the
marketing, the state of the economy during fiscal 2025 and
successful resolution of ongoing regulatory matters.Any
forward-looking statement made by us herein speaks only as of the
date on which it is made. Factors or events that could cause our
actual results to differ may emerge from time to time, and it is
not possible for us to predict all of them. We undertake no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
About Aspen Group, Inc.
Aspen Group, Inc. is an education technology holding company
that leverages its infrastructure and expertise to allow its two
universities, Aspen University and United States University, to
deliver on the vision of making college affordable again. For more
information, visit www.aspu.com.
Contact Information:
Hayden IRKimberly Rogers(385) 831-7337Kim@HaydenIR.com
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