A client approached Verbatim to evaluate the satisfaction level of former students of The Apollo Group (University of Phoenix) to determine future changes in enrollment rates, and ultimately, revenue and share price. Verbatim interviewed former students on their experiences with the University of Phoenix, focusing on satisfaction with education and whether their post-grad experience had lived up to promises made. Our survey process included both phone-based and online surveys. We spoke with former students as well as with admissions officers in order to capture insights from multiple perspectives. Competing for-profit schools like Strayer, DeVry, Corinthian Colleges, Career Education Corp., and Le Cordon Bleu were also surveyed to benchmark the market. Verbatim found that respondents had a hard time finding employment and that they were dissatisfied with job placement help offered by the school. Many commented that it was non-existent. This report refuted the client’s outlook on the company’s growth potential following a drop in share price. Over the next several months Apollo’s stock fell by an additional 50% due to growing consumer dissatisfaction and new government oversight around enrollment practices. This eventually led to the Gainful Employment provision for federal student aid, eliminating funding for many potential students.
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