https://vetsedsuccess.org/veterans-education-success-hails-unanimous-passage-of-landmark-legislation-to-protect-student-veterans-and-ensure-better-oversight-of-gi-bill-colleges/ “This landmark legislation expands student veterans’ protections and... — read more
Topics regarding layoffs at Bridgepoint Education Inc.
Student X
Tell me how you feel about this. http://collegemeltdown.blogspot.com/2020/11/a-letter-to-us-department-of-education.html
Ph.D.
Piled high and Deep https://seekingalpha.com/article/4382354-zovio-inc-zvo-ceo-andrew-clark-on-q3-2020-results-earnings-call-transcript?part=single
A match made in intergrity h*ll
"the notice of allegations (NOA) that the University of Arizona received from the NCAA’s enforcement staff on Friday allegedly includes nine allegations of misconduct, five of which are Level 1, the most serious... — read more
The College Dream is Over
https://collegemeltdown.blogspot.com/2020/10/the-college-dream-is-over-gary-roth.html
"Edugrift"
"Now more recently, organizations like Ashford thru Arizona, GCU, and Kaplan through Purdue Global have in housed their own subprime appointment factories. Not having first hand information, I would still unequivocally say these operations have not... — read more
Student loan volume down 56% at Ashford
https://tcf.org/content/commentary/student-loans-plummeted-summer-term/?agreed=1&session=1
University of Arizona buys Ashford University
At $1, was the price still too high? https://www.insidehighered.com/news/2020/08/04/university-arizona-acquires-ashford-university
Incentive pay...
for the CEO and CFO https://www.sec.gov/ix?doc=/Archives/edgar/data/1305323/000130532320000041/zvo-20200512.htm
Zovio HQ Wins Award for Amenities
While the 2020 Depression ravages the economy, subprime colleges operators get an award for tone deafness. The building features: A full-service cafeteria that provides healthy food options for employees with an adjacent dining area that... — read more
Earnings Call April 29, 2020
It might not be good. Shares down 17 percent today.
Crash...
With the possibility of 30 percent unemployment... https://collegemeltdown.blogspot.com/2019/02/workers-expose-subprime-college-crash.html
New Executive Vice President of Operations as Quarter Ends
Who was the last one? https://www.sec.gov/Archives/edgar/data/1305323/000130532320000027/form8-kxitem502evpoper.htm
Hiring
"CHANDLER, Ariz., March 26, 2020 /PRNewswire/ – As U.S. jobless claims reached unprecedented levels, education technology service provider Zovio (ZVO) (Nasdaq: ZVO) announced today it would hire more than 200 enrollment advisors in the next four... — read more
COO Fired
Andrew Clark sent out an email saying: "Effective Immediately, I have terminated Greg Finkelstein and he is no longer employed at Zovio" Looks like they found a sacrificial lamb for the historically low stock price, although no one liked working... — read more
Accounting tricks?
Can anyone explain how Zovio is going to pull this rabbit out of the hat? From Zovio's latest SEC Form 10K regarding Department of Education financial responsibility scores for Ashford University: "The composite score is a number between negative... — read more
(Stars and Strpies) "Vets group sounds the alarm after VA greenlights controversial Ashford University for GI Bill funds"
“Ashford University preyed on veterans and people of modest means,” Attorney General Xavier Becerra said in a statement. “This for-profit college illegally misled students about their educational prospects and unfairly saddled them with debt.”... — read more
More financial losses
https://seekingalpha.com/news/3544184-zovio-and-nbsp-eps-misses-0_05-misses-on-revenue
Shares up 30 perecent today
Zovio shares surged 30 percent today. Anyone know what caused the dramatic change?
Zovio and FullStack agreement with LSU
"Zovio (ZVO) (Nasdaq: ZVO), an education technology services company, announced today that Fullstack Academy, a Zovio subsidiary, has partnered with Louisiana State University to offer two coding programs... — read more
Write off
Donated 200 junk computers? Hope they scrubbed them of incriminating evidence. https://markets.businessinsider.com/news/stocks/zovio-donates-200-computers-and-three-printers-to-amerischools-via-az-strut-1028847956
I am confused
Nobody has entered into an agreement with Zovio Except for Ashford for services. Zovio has no real profit without Ashford. Take my word that Zovio has no tech, and all of this just means that Zovio can become even more shady with prospective students... — read more
Zovio is running out of money!!!
Down to $70 million in cash and had to take out a $100 million loan for 15 percent interest!!!! The sham is up and now they will be gone within a few years
Shares down to $1.82
Guess the shareholders were not amused by news of the "transition" news. Paying for the transition, a $103 million loan at 15 percent annually, sounds like a company that has issues. I know I thought Zovio had found a free market patsy, as Kaplan... — read more
Zovio Announces Letter of Intent with Ashford University Nonprofit Entity to Convert and Separate Ashford from Zovio
Looks like Zovio may have c-apped out. Wonder how the shareholders will take this. https://seekingalpha.com/pr/17740545-zovio-announces-letter-of-intent-ashford-university-nonprofit-entity-to-convert-and-separate
Snags?
"Our goal is to close the proposed separation and conversion or announce the signing of the agreement for the sale of Ashford University by the end of 2019." "As I said, our goal is to announce either the close of the conversion or assign... — read more
Sold?
Word on the street is that key staff have been notified of a meeting this Thursday.
Hechinger Report
"He found a website listing Ashford University as friendly to service members and veterans. He said the online for-profit university promised him a comprehensive slate of classes and flexibility in scheduling them, so he signed up. His relationship... — read more
Pressured to pass students?
I'd like to know more about rumors that Ashford instructors were pressured to pass students. My College Meltdown email is easy to find.
The Higher Education Assembly Line
https://www.linkedin.com/pulse/higher-education-assembly-line-dahn-shaulis/
Zovio Celebrates New Headquarters
PR Newswire CHANDLER, Ariz., Nov. 14, 2019 /PRNewswire/ – Zovio (ZVO), an education technology services company, cut the ribbon at their new Chandler Headquarters yesterday. Andrew Clark, Founder, President, and CEO of Zovio, was joined by over... — read more
Job Opening
The full-time Corporate Communications Specialist position is a key part of the communication team at Zovio. We’re looking for someone who enjoys writing stories, planning events, managing projects, and reporting results. This role will have a lot to... — read more
Academics?
I hear Ashford profs have been pressured to pass all their students, that some students have been granted degrees despite not meeting degree requirements, and that plagiarism has been ignored. Any truth to that? If so, how rampant is it?
Ashford prof organizing for justice and accountability
SB does not want Ashford to shut down. He and others are seeking justice for students and teachers. How will Zovio respond? https://www.youtube.com/watch?v=gNe9RvWLYJg&t=113s https://www.youtube.com/watch?v=9au2O18D-gs
Ashford to become Indiana State University College?
Is this right?
Is Ashford University the next Purdue University Global?
Several people in higher education have compared an Ashford University deal with a state university to the Kaplan Higher Education-Purdue University Global deal. And does sound like AU may have several suitors. So what has happened to Kaplan... — read more
Ashford suitors
"Zovio does not have the assets, such as cash on hand, for a safe conversion over the long run. And this lack of assets would make the buyer school more responsible for finances during the conversion." " the most logical buyer would be a school... — read more
State Colleges Seduced By For-Profit, Online Education
"As Betsy DeVos’s Department of Education works this morning to outsource more and more taxpayer-funded student aid to predatory for-profit online education companies, Wall Street investors see a new gold rush. Seeking to avoid the stigma and... — read more
Shares up
ZVO shares continue to rebound, from a low of $1.39 to $2.66 today. Guess investors think there is a good deal in the making.