- Ownership and Structure: Apollo Education Group was a publicly traded company listed on the NASDAQ stock exchange under the ticker symbol “APOL”. It operated as a holding company with subsidiaries primarily in the field of higher education.
- University of Phoenix: This was Apollo Education Group’s most well-known subsidiary. The University of Phoenix offered a wide range of undergraduate and graduate degree programs, predominantly through online platforms and physical campuses spread across various locations in the United States.
- History: Apollo Education Group was founded in 1973 by John Sperling, who aimed to provide educational opportunities for working adults through flexible, non-traditional learning formats. The company grew significantly over the decades, becoming a major player in the for-profit education sector.
- Educational Approach: The University of Phoenix, under Apollo Education Group, focused on providing accessible education to adult learners, often emphasizing career-oriented programs designed to meet the needs of working professionals.
- Controversies and Challenges: Like many for-profit educational institutions, Apollo Education Group and the University of Phoenix faced criticism and scrutiny. Issues included concerns about high tuition costs, student loan debt levels, recruitment practices, and questions about the quality of education and student outcomes.
- Acquisition and Privatization: In 2017, Apollo Education Group was acquired and taken private by a consortium of investors led by The Vistria Group, LLC and funds affiliated with Apollo Global Management, LLC. This move took the company off the public stock exchange.
- Legacy and Impact: Apollo Education Group’s legacy includes influencing discussions and debates about the role of for-profit education in the broader landscape of higher education in the United States, particularly in terms of affordability, access, and regulatory oversight.