Friday Follow Up
Online gains at UoP and PKH; and apparent enrollment gains at private and for-profits
Phil Hill
September 19, 2025
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Productivity has suffered recently due to our long-term visitor (an hour and counting), but it’s been a busy week with quite a few updates in order.
About the University of Phoenix IPO
After being rebuffed twice by state systems considering an acquisition, the University of Phoenix (UoP) set a new path, filing for an IPO. If you haven’t heard much about this planned offering, it’s probably because it’s boring. As in a company (and university) that has mostly completed its turnaround and has really solid (if no spectacular) financials and enrollments.
In 2017, UoP started a turnaround that eliminated underperforming majors by aligning with workforce demands and getting out of the associate’s degree business. It’s long-term enrollment declines from more than 400,000 to fewer than 100,000 finally stabilized in 2022 and is now steadily growing [emphasis added].
