Apollo Education -6.2% AH on Education Dept. probe


Apollo Education (NASDAQ:APOL) discloses the Department of Education plans to "conduct an ordinary course program review of University of Phoenix's administration of federal student financial aid (Title IV) programs in which the University participates."

The review will "cover federal financial aid years 2012-2013 and 2013-2014, as well as compliance with the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, the Drug-Free Schools and Communities Act and related regulations."

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Comments (2)
  • David J. Waldron
    , contributor
    Comments (65) | Send Message
     
    This is a knee-jerk response to a normal course of regulatory business in all of higher education.

     

    Ordinary program reviews from US Department of Education [ED] are customary for all schools, colleges, and universities administrating the Title IV financial aid program. Granted, program reviews by ED at for-profits have ramped up in recent years.

     

    Regardless -6.2% after hours does not make sense on this news alone. If these selling shareholders of APOL were nervous about the company's federal compliance, they should have sold at $35 or at least when competitors COCO, ESI, and EDMC were first making headlines on compliance issues.
    14 Jul 2014, 05:20 PM Reply Like
  • Michael Clark
    , contributor
    Comments (11311) | Send Message
     
    Not so. All the for-profits are going to get shut down for corruption. Better get out while you can.
    15 Jul 2014, 01:13 AM Reply Like
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