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8-K - FORM 8-K - APOLLO EDUCATION GROUP INC | p16309e8vk.htm |
Exhibit 99.1
Apollo Group, Inc. News Release |
APOLLO GROUP, INC.S UNIVERSITY OF PHOENIX IS RECERTIFIED BY
U.S. DEPARTMENT OF EDUCATION TO PARTICIPATE IN TITLE IV PROGRAMS
Universitys Program Participation Agreement is Non-provisional and
Issued for Three-Year Period
Issued for Three-Year Period
PHOENIX, November 16, 2009 Apollo Group, Inc. (NASDAQ: APOL) (Apollo Group, Apollo or the
Company) today announced that it has been informed by the U.S. Department of Education that its
University of Phoenix subsidiary has been recertified for continued participation in student
financial aid programs under Title IV of the Higher Education Act. The Universitys new Program
Participation Agreement is not provisional and expires December 31, 2012.
We take our fiduciary duty of handling Title IV funds extremely seriously and apply the highest
standards of care and diligence in administering and accounting for these funds, said Apollo Group
President and Chief Operating Officer Joseph DAmico. We are pleased with University of Phoenixs
recertification and look forward to continuing to participate in Title IV programs, which are
largely responsible for enabling our students to pursue higher education and advance their careers
and their lives.
University of Phoenixs prior certification for participation in Title IV programs expired in June
2007, at which time the University continued to participate in the programs on a month-to-month
basis as approved by the Department of Education pending its recertification.
About Apollo Group, Inc.
Apollo Group, Inc. is one of the worlds largest private education providers and has been in the
education business for more than 35 years. The Company offers innovative and distinctive
educational programs and services both online and on-campus at the high school, undergraduate,
graduate and doctoral levels through its subsidiaries: University of Phoenix, Institute for
Professional Development, College for Financial Planning, Western International University, Meritus
University, Insight Schools and Apollo Global. The Companys programs and services are provided in
40 states and the District of Columbia; Puerto Rico; Canada; Latin America; and Europe, as well as
online throughout the world (data as of August 31, 2009).
For more information about Apollo Group, Inc. and its subsidiaries, call (800) 990-APOL or visit
the Companys website at www.apollogrp.edu.
Forward-Looking Safe Harbor
Statements in this press release regarding Apollo Groups business outlook, future financial and
operating results, future enrollment, and overall future strategy and plans, are forward-looking
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statements, and are subject to the Safe Harbor provisions created by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are based on current information
and expectations and involve a number of risks and uncertainties. Actual results may differ
materially from those projected in such statements due to various factors. For a discussion of the
various factors that may cause actual results to differ materially from those projected, please
refer to the risk factors and other disclosures contained in Apollo Groups previously filed Form
10-K, Forms 10-Q, and other filings with the Securities and Exchange Commission.
Investor Relations Contacts:
Allyson Pooley ~ (312) 660-2025 ~ allyson.pooley@apollogrp.edu /
Jeremy Davis ~ (312) 660-2071 ~ jeremy.davis@apollogrp.edu
Allyson Pooley ~ (312) 660-2025 ~ allyson.pooley@apollogrp.edu /
Jeremy Davis ~ (312) 660-2071 ~ jeremy.davis@apollogrp.edu
Media Contact:
Sara Jones ~ (818) 326-1871 ~ sara.jones@apollogrp.edu
Sara Jones ~ (818) 326-1871 ~ sara.jones@apollogrp.edu
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