Here's University of Arizona Global's 2020 BPPE Report. Note: This report has not been approved by California's Division of Consumer Affairs, but it's still interesting to look at the program costs, completion rates, graduates employed in the field... — read more
Zovio's "Dumpster Fire"
Zovio's "dumpster fire" is reminding so much of the collapse of Corinthian Colleges, ITT Tech, Education Management Corporation, Career Education Corporation schools, Apollo Group, ECA, Laureate Education, and so many others. Zovio is on trial in... — read more
New CEO
https://seekingalpha.com/news/3776220-edtech-firm-zovio-hires-new-ceo
Failing to Provide Accurate Reports to California Consumer Agency. Dwindling Faculty Numbers
In addition to its dwindling cash, falling share price, no CEO, and high-profile lawsuits, Zovio has at least two more problems. (1) Zovio-Ashford-UAGC has failed to provide accurate reports to California BPPE. The 2018 report was not good; it... — read more
Targeting servicemembers with unbelievable claims
"The University of Arizona Global Campus appreciates the sacrifice you made for your country and takes pride in helping you create your future. We provide military tuition grants, dedicated military advisors seven days a week, and flexible schedules... — read more
Transparency about unmanageable student loan debt
Imagine what the numbers for UAGC (aka Ashford University) must look like now. These data are from 2014. https://www.highereducationinquirer.org/2021/11/more-transparency-about-student-debt.html
California Opens Fraud Trial Against College Now Owned by Arizona
"California’s attorney general this week began presenting evidence in his office’s long-awaited fraud trial against for-profit Ashford University. In the case, filed in 2017, the state alleges that Ashford engaged in unfair and fraudulent business... — read more
Any word on the California AG Case?
Nothing in the media. This case has been dragging out since 2017. ... — read more
If you're in Denver...
Guild Education should be hiring.
Pomerantz Law Firm Investigates Claims On Behalf of Investors of Zovio Inc.
"The investigation concerns whether Zovio and certain of its officers and/or directors have engaged in securities fraud or other unlawful business... — read more
Results of 3rd Quarter: Revenues down 33%, $5 million loss, 67% loss of cash on hand
If you missed the Q3 earnings call, you didn't miss much. Zovio continues to be in financial trouble--and the Ashford rebrand hasn't made a difference. Share price is close to at all-time low. This is not the end, but it's not good. ... — read more
"Zovio Schedules Third Quarter 2021 Earnings Conference Call for October 27, 2021"
https://www.marketwatch.com/press-release/zovio-schedules-third-quarter-2021-earnings-conference-call-for-october-27-2021-2021-10-21?siteid=nbsh#
The People of the State of California v. Ashford University
Trial scheduled November 1, 2021. Case No. RG17883963 (Alameda County). Here's the initial complaint from the California AG: https://www.courthousenews.com/wp-content/uploads/2017/11/Ashford-Bridgepoint-COMPLAINT-Calif.pdf
Still living the lie?
UAGC (aka Ashford University)... https://www.thelayoff.com/t/1dpDWE6i
UAGC avoids FTC Scrutiny
Who says tax status doesn't matter? https://www.republicreport.org/2021/ftc-announces-crackdown-on-predatory-college-abuses/
World class?
So Zovio and UAGC are going to go down the same road as Kaplan Higher Education and Purdue University Global, selling a subprime school to working people as a "world-class" institution? The fraudulent claim is made at the 42 second mark. ... — read more
Fireside Chat
CHANDLER, Ariz., Sept. 13, 2021 /PRNewswire via COMTEX/ -- CHANDLER, Ariz., Sept. 13, 2021 /PRNewswire/ -- Zovio (Nasdaq: ZVO), an education technology services company that partners with higher education institutions and employers, announced Zovio... — read more
UAGC President
"The Louisiana Department of Education (LDOE) for at least three years manipulated qualification requirements for several New Orleans charter schools so that they would qualify for millions of dollars in federal grants, according to a former LDOE... — read more
Reducing costs...
https://seekingalpha.com/article/4442278-zovio-inc-zvo-ceo-george-pernsteiner-on-q2-2021-results-earnings-call-transcript "Sure a lot of the savings are in taking a look at the company and really eliminating administrative functions that are not... — read more
More losses. Burning through cash.
"Operating loss for the three months ended June 30, 2021 was $4.5 million, compared with operating income of $5.3 million for the three months ended June 30, 2020. Net loss for the three months ended June 30, 2021 was $4.0 million, compared with net... — read more
Debt Sentence
Student loan default is a traumatic, stigmatizing experience. Because of that, many working people keep the pain of their student loan problems to themselves. https://www.proquest.com/docview/2540743739?pq-origsite=gscholar&fromopenview=true
A New Mega-University Expects to Earn Big Money Immediately. Are Its Projections Too Ambitious?
https://www.chronicle.com/article/a-new-mega-university-expects-to-earn-big-money-immediately-are-its-projections-too-ambitious?utm_source=Iterable&utm_medium=email&utm_campaign=campaign_2420751_nl_Academe-Today_date_20210604&cid=at&source=&sourceId= — read more
Techniques of deception
Is anybody here feeling bothered by the current business practices? If so, let me know. https://www.republicreport.org/2021/zovio-adds-board-members-as-deceptions-at-arizona-global-persist/
More losses
Operating loss for the three months ended March 31, 2021 was $9.3 million, compared with operating loss of $10.5 million for the three months ended March 31, 2020. Net loss for the three months ended March 31, 2021 was $9.5 million, compared with... — read more
Two new board members
Zovio "announced today the appointment of two new members to its Board of Directors: Dr. John S. Wilson, former Morehouse College President who serves as a Visiting Scholar at the Harvard Business School and Mr. Ron Huberman, Chief Executive Officer... — read more
CEO is out
"Zovio, Inc. (Nasdaq: ZVO) announced today that Andrew Clark, Founder, President and CEO, and the Zovio Board of Directors, mutually agreed to his departure from the Company as its Chief Executive Officer ("CEO") and all other offices of the Company... — read more
$61M loss in 2020
https://www.sec.gov/ix?doc=/Archives/edgar/data/1305323/000130532321000013/zvo-20201231.htm
Buyer Beware
https://www.linkedin.com/pulse/buyer-beware-servicemembers-veterans-families-need-guard-dahn-shaulis/
New Federal Legislation Protects Veterans From Predatory Schools
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
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