According
to the College Board, the average cost of tuition and fees for the 2013–2014
school year was $30,094 at private colleges; $8,893 for state residents at public
colleges; and $22,203 for out-of-state residents. For many Americans, as well
as international students, the price tag of a college education is often hinged
to a high-interest student loan that can take years to pay off.
Aspen
Group, an accredited provider of online postsecondary education, strives to
provide distance-learning education opportunities to equip students with
“sustainable economic and social benefits for themselves and their families.”
The university does so by offering low tuition rates on courses taught by
Top-tier faculty, 61% of which have doctoral degrees. “Low tuition rates” is
relative – but according to Aspen’s Economic Responsibility Goal, the group
offers tuition rates low enough that a majority of its students can pay the tuition
in cash (maintaining Federal Financial Aid revenues below 50%).
Online
education is gaining widespread acceptance, especially among working
professionals that choose not to, or are not able to, stop working to obtain a
postsecondary education. Online flexibility enables students to enroll in
courses taught by instructors with advanced degrees and log on day or night to
“attend” class from anywhere with an Internet connection. Students can network
with other students, interact with respected technology leaders and fellow
professors from around the world, or enroll in courses facilitated one-on-one
with the instructor.
Another
advantage to online learning vs. traditional learning is the ability to
participate in a discussion rather than follow a lecture or presentation.
Instructors at Aspen University work closely with students to create an online,
community-based learning environment. In this sense, faculty serves as
facilitators rather than the focal point. Textbooks and online study guides
assist students in performing coursework that is submitted to the faculty for
grading a feedback via Aspen University’s proprietary online platform.
Aspen
University offers education to students across the U.S. and around the world
and accepts credits from other accredited institutions as well as schools
outside the U.S. The university provides its students with access to ProQuest
library services with databases focused on business, technology, nursing,
criminal justice and education.
As
of July 30, 2013, 86% of Aspen University’s full-time degree-seeking students
are enrolled in a graduate degree program (master’s or doctoral degree
program). Aspen University is increasingly gaining traction among adults
seeking higher education, and as of Aspen Group’s fiscal 2015 second quarter
ended October 31, 2014, the university’s School of Nursing student body
increased 71% to 1,026, accounting for 37% of the university’s total full-time
degree-seeking student body of 2,811.
Aspen
University’s growing presence is further evidenced by the company’s ability to
grow revenues, trim net loss, and strengthen its balance sheet.
Second-quarter
fiscal 2015 total revenues increased 33% to $1.2 million compared to the second
quarter of fiscal 2014; nursing program revenues rose to $483,050, or 40% of
Aspen Group’s total revenues. Adjusted gross profit (non-GAAP) increased 67% to
$800,921, or 66% of revenues, compared to the second quarter of fiscal 2014.
The second quarter non-GAAP fiscal 2015 loss of $228,819 narrowed compared to a
loss of $707,501 in the comparable prior-year period.
Aspen
Group closed a $5.4 million private placement of equity securities in the
second quarter of fiscal 2015, substantially improving the company’s balance
sheet. The company retired early its outstanding institutional convertible
debentures, improved its cash position to $3 million and increased its
stockholders equity to a positive $1.8 million.
In
addition, the university achieved several other important benchmarks, including
a 33% decrease in the cost per new degree-seeking enrollment – now at a record
low of $544; and Aspen’s Bachelor of Science in Nursing Program (RN to BSN)
received accreditation from the Commission on Collegiate Nursing Education
(CCNE).
Aspen
Group chairman and CEO Michael Mathews in a recent news release offered the
following:
“The
closing of our $5.4 million equity financing and the granting of accreditation
of our RN to BSN program by the CCNE are two important milestones that will
allow Aspen to scale its debtless education solution. We’ve now removed all
roadblocks to achieving our near-term goal of communicating to all RNs in
America that they now have the ability to earn a BSN or MSN debt free,” he
stated.
For
more information, visit www.aspen.edu
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