The Louisville campus of national online educator the University of Phoenix is no longer accepting students and will close next year, as the school’s parent company continues to hemorrhage funds.
According to internal emails from campus and academic director Myra Rock to students and faculty, and obtained by IL, the branch stopped accepting local students last week and, eventually, will likely move its remaining operations to a hotel or conference center. In addition, much of the teaching faculty will lose their jobs, according to a source with intimate knowledge of the operation.
The campus is located at 10400 Linn Station Rd.
The announcement of an impending closure comes days after University of Phoenix’s parent company, Apollo Education Group, disclosed mounting losses in its March 25 quarterly financial statement. Share price carnage followed; the stock fell off a cliff the day the company announced its financial results and is down 32.7 percent in five trading days.
The losses tie into broader problems arising from growing national disenchantment with for-profit education. In 2010, the University of Phoenix had 460,000 students nationwide; now it has 213,000. Similarly, the Louisville campus has gone from more than 200 students enrolled to approximately 100 in the past 18 months. That figure doesn’t count online enrollments.
On March 25, Rock sent out an email to faculty explaining what’s to come:
- New student enrollment at the Louisville campus ceased on March 24.
- From March 24 through August 31, 2016, the campus will operate as it does now.
- On August 31, 2016, “the lease on the current local campus ends,” Rock wrote. School leadership and staff will move to a smaller administrative space. There will still be a resource center available to students, but its location is to be determined. “Classes move to a smaller space (most likely a conference center/hotel — location TBD),” Rock wrote.
- Spring/Summer 2017, depending on student retention, the last group of local campus students will complete their degree program requirements.
In addition, a lot of the faculty will be out of jobs by the end of 2015, according to a source with inside knowledge of the university.
“Approximately 60 … associate faculty members are certified to teach at UOP, but less than two dozen will finish out this year 2015,” the source told IL. Associate faculty members are paid roughly $1,200 per class.
IL contacted Rock, who said a media team from the university would answer all questions. University of Phoenix has not responded to our inquiry.