EDUCATION FOR PROFIT

By many measures, the University of Phoenix is the most successful institution for higher education in American history, says Katherine Mangu-Ward, an associate editor at Reason. For example:

• The University of Phoenix has more than 325,000 students -- 22 times the number at the University of Chicago.
• On campuses scattered across 39 states, and online as well, it offers everything from associate's degrees in sports management to a Spanish-language MBA.
• The University of Phoenix is now an educational and commercial powerhouse listed on NASDAQ with a market capitalization of $7.4 billion.

In recent years, says Mangu-Ward, the University of Phoenix has become the poster child for everything the mainstream academic establishment thinks is wrong about for-profit higher education. But much of what academic traditionalists see as problems, Phoenix advertises proudly as solutions: The university aims to meet under-served demand for post-secondary education, tailor-made to fit the individual demands of busy adults...

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