CHANDLER, Ariz., Feb. 18, 2020 /PRNewswire/ -- Zovio (Nasdaq:
ZVO), an education technology services company, announced today
Ashford University received
approval from the Department of Veterans Affairs (VA), serving
as the California State Approving Agency (CA SAA), on their
application to the state of California with a retroactive effective date
of July 1, 2019.
"Approving Ashford University
achieves our mutual goal of providing veteran students with a
high-quality education using the VA Education Benefits they earned
in service to our country," said Andrew
Clark, Founder, President and CEO of Zovio.
Ashford University's structure is
ideally suited to the unique needs of student veterans and those
affiliated with the military. Ashford
University's new student survey respondents indicate 95% of
military students would recommend Ashford to others seeking a
degree. The University is very proud of the fact that many of their
military and veteran students arrive through word of mouth and
referrals.
Ashford continues to see the percent of revenue derived from
federal funding fall well below the 90/10 rate required by the
government, a validation of the quality of education at Ashford.
Even if both GI Bill and TA funds were added to the 90%, Ashford
would still be below the ratio for federal funding demonstrating
the value and quality of education for our graduates and those that
employ them.
The VA approval includes the majority of Ashford's current
programs and includes four new STEM programs. The 20 programs that
were not approved by the VA do not represent a significant number
of students and will not result in a material impact to Ashford's
total enrollment.
"Ashford will work diligently with the VA to complete the
final administrative steps in the approval process to include a
review of the affected programs and the veteran students currently
enrolled," added Clark.
About Zovio
Zovio (Nasdaq: ZVO) is an education technology services company
that partners with higher education institutions and employers to
deliver innovative, personalized solutions to help learners and
leaders achieve their aspirations. The Zovio network, which
includes Fullstack Academy, TutorMe, and Learn@Forbes, leverages
its core strengths and applies its technology and capabilities to
priority market needs. Using advanced data and analytics, Zovio
identifies the most meaningful ways to enhance the learner
experience and deliver strong outcomes for higher education
institutions, employers, and learners. Zovio's purpose is to help
everyone be in a class of their own. For more information, visit
www.zovio.com.
Cautionary Statement Regarding Forward-Looking
Statements
This Press Release contains "forward-looking statements," including
statements relating to the VA approval. Words such as "may,"
"should," "could," "would," "predicts," "potential," "continue,"
"expects," "anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar expressions, as well as statements in
future tense, identify forward-looking statements. Forward-looking
statements are based on information available at the time those
statements are made or management's good faith belief as of that
time with respect to future events and are subject to risks and
uncertainties that could cause actual events to differ materially
from those expressed in or suggested by the forward-looking
statements. Important factors that could cause such differences
include, but are not limited to: the failure of Ashford to continue
to meet all regulatory requirements; and other factors discussed in
the Company's reports on file with the Securities and Exchange
Commission. Factors or events that could affect the transactions
contemplated herein or cause the Company's actual results to differ
may emerge from time to time, and it is not possible for the
Company to predict all of them. The Company undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by any
applicable securities laws.
Contact: Alanna Vitucci
alanna.vitucci@zovio.com
858 668 2586 x11636
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SOURCE Zovio