Apollo Education Group is a for-profit education company that was known for its ownership of the University of Phoenix, a well-known online and on-campus university offering a variety of degree programs. As of my last update in September 2021, here is an overview of Apollo Education Group and its relationship with the University of Phoenix:
1. University of Phoenix: The University of Phoenix is one of the most recognized for-profit higher education institutions in the United States. It was founded in 1976 and gained popularity for its non-traditional approach to education, including online and evening classes that catered to working adults. The university offered a wide range of degree programs, including associate, bachelor’s, master’s, and doctoral degrees, in various fields such as business, education, healthcare, and more.
2. Apollo Education Group: Apollo Education Group was the parent company of the University of Phoenix. It was established to oversee and manage the operations of the university and its related entities. Apollo Education Group was publicly traded on the NASDAQ stock exchange under the ticker symbol “APOL.”
3. Changes and Challenges: In the late 2000s and early 2010s, the University of Phoenix and other for-profit colleges faced scrutiny over issues related to student debt, loan repayment rates, recruitment practices, and student outcomes. There were concerns that some students were taking on significant debt to attend these institutions, often without achieving the intended educational and career outcomes.
4. Acquisition and Transition: In 2016, Apollo Education Group was acquired by a consortium of investors, including The Vistria Group, Apollo Global Management, and Najafi Companies. Following the acquisition, the University of Phoenix continued to operate but underwent changes in leadership, policies, and operations.
Please note that the information provided is based on the situation as of September 2021. Since then, there may have been further developments or changes related to Apollo Education Group and the University of Phoenix. For the most current and accurate information, I recommend visiting official websites, news sources, and financial reports related to the entities in question.