Apollo Group
Encyclopedia
Apollo Group, Inc. is an S&P 500
corporation
based in the South Phoenix
area of Phoenix, Arizona
. Apollo Group, Inc., through its subsidiaries, owns several for-profit educational institutions.
The company owns and operates four higher-learning institutions: the University of Phoenix
, Western International University
, Axia College
, the College for Financial Planning, the Institute for Professional Development. It also owns Insight Schools (Online Public High Schools for Washington, Wisconsin, and other locations), and Olympus High School
. As of November 2005, the combined enrollment of the four U.S. domestic universities (UOPX, WIU, Axia, CFFP) was approximately 315,350 students. Of these, nearly 90% attend the University of Phoenix, which Apollo describes as "the nation’s largest regionally accredited private university
"..
Additionally, Apollo Group, Inc. is the owner of BPP University College of Professional Studies
in the United Kingdom
. It joined forces with Carlyle Group
for tactical investments in education to expand student base. Apollo also purchased UNIACC college in Santiago, Chile and ULA college in Mexico.
Corporate revenues for the year ending August 31, 2005 were $2.251 billion. As of August 31, 2005, Apollo Group offers its programs and services at 90 campuses in 39 states, Puerto Rico, Alberta, and British Columbia, as well as the Netherlands.
Recently, Charles "Chas" Edelstein became the Chief Executive Officer
of Apollo Group, a position that remained vacant for many years. Chas joins Joe D'Amico, the Chief Financial Officer
, President
, and Treasurer as the two key executive officers. Edelstein joined Apollo Group in late 2008 from Credit Suisse
.
is a wholly owned subsidiary of the Apollo Group. The University of Phoenix is one of the largest higher education providers in North America. The university has more than 200 campuses worldwide and confers degrees in over 100 degree programs at the associate
, bachelor's, master's and doctoral
levels. The University of Phoenix has an open enrollment
admission policy only requiring a high-school diploma, GED
, or an equivalent qualification. The school also provides associate or bachelor's degree applicants opportunity for advanced placement through its prior learning assessment
, which, aside from previous coursework, college credit can come from experiential learning essays, corporate training, and certificates or licenses.
Apollo Global acquired BPP Professional Education (now BPP University College) in the United Kingdom for $607 million in July 2009.
Apollo Group is a joint venture between the Apollo Group and the Carlyle Group. The two partners invested $1 billion in Apollo Global. The Apollo Group invested roughly $801 million and owns 80.1% of the new company. Carlyle invested $199 million and controls the remaining shares. Apollo Global replaced Apollo International.
(LHSOC) to manage its online delivery of high school classes. Established in 1973, LHSOC is a comprehensive, college preparatory high school with a reputation for academic rigor.
.
was acquired by the Apollo Group in 2007.
S&P 500
The S&P 500 is a free-float capitalization-weighted index published since 1957 of the prices of 500 large-cap common stocks actively traded in the United States. The stocks included in the S&P 500 are those of large publicly held companies that trade on either of the two largest American stock...
corporation
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
based in the South Phoenix
South Phoenix
South Phoenix, also known as the South Mountain Village, South Mountain District or SoMo, is a neighborhood in Phoenix, Arizona. It has the boundaries of 27th Avenue to the west, 48th Sreet to the east, the Salt River to the north and South Mountain Park to the south...
area of Phoenix, Arizona
Phoenix, Arizona
Phoenix is the capital, and largest city, of the U.S. state of Arizona, as well as the sixth most populated city in the United States. Phoenix is home to 1,445,632 people according to the official 2010 U.S. Census Bureau data...
. Apollo Group, Inc., through its subsidiaries, owns several for-profit educational institutions.
The company owns and operates four higher-learning institutions: the University of Phoenix
University of Phoenix
The University of Phoenix is a for-profit institution of higher learning. It is a wholly owned subsidiary of Apollo Group Inc. which is publicly traded , an S&P 500 corporation based in Phoenix, Arizona...
, Western International University
Western International University
The Western International University is a regionally accredited for-profit university owned by the Apollo Group. Western International University is a college for adult learners and allows adults to remain responsible for their careers and family life by offering online and evening programs.Western...
, Axia College
Axia College
Axia College is a for-profit educational institution founded in March 2004. There are currently more than 100,000 students attending Axia.-History:...
, the College for Financial Planning, the Institute for Professional Development. It also owns Insight Schools (Online Public High Schools for Washington, Wisconsin, and other locations), and Olympus High School
Olympus High School
Olympus High School is a public high school in the Granite School District in Holladay, Utah, a suburb of Salt Lake City. It opened on September 1, 1953 with an original enrollment of 1028 students.-Notable alumni:...
. As of November 2005, the combined enrollment of the four U.S. domestic universities (UOPX, WIU, Axia, CFFP) was approximately 315,350 students. Of these, nearly 90% attend the University of Phoenix, which Apollo describes as "the nation’s largest regionally accredited private university
Private university
Private universities are universities not operated by governments, although many receive public subsidies, especially in the form of tax breaks and public student loans and grants. Depending on their location, private universities may be subject to government regulation. Private universities are...
"..
Additionally, Apollo Group, Inc. is the owner of BPP University College of Professional Studies
BPP University College of Professional Studies
BPP University College is a private university college in England.The university is owned and run by BPP Holdings, a United Kingdom-based provider of professional and academic education that is part of the American higher education company Apollo Group which owns the University of Phoenix and ...
in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. It joined forces with Carlyle Group
Carlyle Group
The Carlyle Group is an American-based global asset management firm, specializing in private equity, based in Washington, D.C. The Carlyle Group operates in four business areas: corporate private equity, real assets, market strategies and fund-of-funds, through its AlpInvest subsidiary...
for tactical investments in education to expand student base. Apollo also purchased UNIACC college in Santiago, Chile and ULA college in Mexico.
History
Apollo Group, Inc. was founded in 1973.Corporate revenues for the year ending August 31, 2005 were $2.251 billion. As of August 31, 2005, Apollo Group offers its programs and services at 90 campuses in 39 states, Puerto Rico, Alberta, and British Columbia, as well as the Netherlands.
Recently, Charles "Chas" Edelstein became the Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Apollo Group, a position that remained vacant for many years. Chas joins Joe D'Amico, the Chief Financial Officer
Chief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
, President
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
, and Treasurer as the two key executive officers. Edelstein joined Apollo Group in late 2008 from Credit Suisse
Credit Suisse
The Credit Suisse Group AG is a Swiss multinational financial services company headquartered in Zurich, with more than 250 branches in Switzerland and operations in more than 50 countries.-History:...
.
University of Phoenix
The University of PhoenixUniversity of Phoenix
The University of Phoenix is a for-profit institution of higher learning. It is a wholly owned subsidiary of Apollo Group Inc. which is publicly traded , an S&P 500 corporation based in Phoenix, Arizona...
is a wholly owned subsidiary of the Apollo Group. The University of Phoenix is one of the largest higher education providers in North America. The university has more than 200 campuses worldwide and confers degrees in over 100 degree programs at the associate
Associate
Associate may refer to:* A business valuation concept.* A title used by some companies instead of employee.* A title used to signify an independent person working as if directly employed by the company of which they are an associate...
, bachelor's, master's and doctoral
Doctorate
A doctorate is an academic degree or professional degree that in most countries refers to a class of degrees which qualify the holder to teach in a specific field, A doctorate is an academic degree or professional degree that in most countries refers to a class of degrees which qualify the holder...
levels. The University of Phoenix has an open enrollment
Open admissions
Open admissions is a type of unselective and non-competitive college admissions process in the United States in which the only criterion for entrance is a high school diploma or a General Educational Development certificate.This form of "inclusive" admissions is used by many public junior...
admission policy only requiring a high-school diploma, GED
GED
General Educational Development tests are a group of five subject tests which, when passed, certify that the taker has American or Canadian high school-level academic skills...
, or an equivalent qualification. The school also provides associate or bachelor's degree applicants opportunity for advanced placement through its prior learning assessment
Recognition of prior learning
Recognition of prior learning , prior learning assessment , or prior learning assessment and recognition , describes a process used by colleges and universities around the world to evaluate learning acquired outside the classroom for the purpose of assigning academic credit...
, which, aside from previous coursework, college credit can come from experiential learning essays, corporate training, and certificates or licenses.
Apollo Global
Apollo Group has formed Apollo Global to manage and form subsidiaries, assets, and holdings overseas. As part of their first acquisitions, Apollo Global acquired Universidad de Artes, Ciencias y Comunicacion 'UNIACC' in Chile as well as the now defunct Meritus University in Canada.Apollo Global acquired BPP Professional Education (now BPP University College) in the United Kingdom for $607 million in July 2009.
Apollo Group is a joint venture between the Apollo Group and the Carlyle Group. The two partners invested $1 billion in Apollo Global. The Apollo Group invested roughly $801 million and owns 80.1% of the new company. Carlyle invested $199 million and controls the remaining shares. Apollo Global replaced Apollo International.
Western International University
Western International University is a college for adult learners and allows students to remain responsible for their careers and family life by offering online and evening programs.Orange Lutheran Online
Apollo Group has been contracted by Lutheran High School of Orange CountyLutheran High School of Orange County
Lutheran High School of Orange County is a private Lutheran high school in Orange, California, founded in 1973. In 2011 it was announced that the school would no longer acknowledge Wood Shop as a useful class by terminating the program....
(LHSOC) to manage its online delivery of high school classes. Established in 1973, LHSOC is a comprehensive, college preparatory high school with a reputation for academic rigor.
Meritus University
Apollo Group owned and operated Meritus University in Canada. On January 24, 2011, citing how "enrollment will continue to be insufficient to sustain the required quality academic and student service infrastructure we and our students demand," Meritus University announced its closure, with their last classes taking place on March 14, 2011.Universidad de Artes, Ciencias y Comunicacion
University for the Arts, Sciences, and Communication, ChileChile
Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...
.
Universidad Latinoamericana, Mexico
The Universidad Latinoamericana in MexicoMexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
was acquired by the Apollo Group in 2007.
Aptimus Marketing
Aptimus is a full-service, in-house marketing agency for Apollo Group education institutions, including the University of Phoenix, Axia College, the Institute for Professional Development, Olympus High School, and Insight School.Controversy
In January 2008, Apollo was found liable for misleading investors by not disclosing a Department of Education report critical of the University of Phoenix's recruitment practices. The jury awarded the plaintiffs $280 million.External links
- Apollo Group Company Website
- Yahoo! Finance profile of Apollo Group
- Universidad Latinoamericana, S.C. México
News articles
- University of Phoenix fined record $9.8 million article on the Arizona Daily StarArizona Daily StarThe Arizona Daily Star is the major morning daily newspaper that serves Tucson and surrounding districts of southern Arizona in the United States. The paper was purchased by Pulitzer in 1971; Lee Enterprises bought Pulitzer in 2005....
(of Pulitzer, Inc.Pulitzer, Inc.Founded by Joseph Pulitzer , Pulitzer Inc., owned 14 daily newspapers across the United States, and one weekly chain. Its papers included the St...
) - Trouble Grows for University Built on Profits, NY Times, February 11, 2007 by Sam Dillon
- "College, Inc.", PBS FRONTLINE documentary, May 4, 2010