University of Phoenix enrollment drops 42%

Student enrollment at University of Phoenix parent Apollo Group nose-dived 42 percent in the three months that ended Dec. 30, and on Monday investors learned that company executives believe it is only the beginning.

The Phoenix-based company expects those figures to fall as much as another 40 percent next quarter, and Apollo could continue to see steep declines for the rest of the year, executives said.

Overall enrollment fell 3.8 percent, compared with a year earlier, to 438,100.

» via The Arizona Republic