University of Phoenix

"It's the oldest institution of its kind and, as such, many people refer to it as the Harvard of Internet colleges."

"How did the institution that we would call career college or trade school transform itself into a $32-billion-a-year business? Mainly by "milking" the government for profit, and taking advantage of student-loan programs designed to help those on the bottom of the economic pyramid continue their studies beyond high school. The Apollo Group, which owns the University of Phoenix, derives almost 89 percent of its revenues from the federal government, and Kaplan Higher Education, owned by Graham Holdings (formerly the Washington Post Group), almost 88 percent."

"The University of Phoenix, the publicly traded grand-daddy of for-profit colleges, made headlines a few weeks ago with the revelation that the company's enrollment had dropped 50 percent over the past five years. … John Murphy, a co-founder of the University of Phoenix, isn't surprised by any of this news. Murphy argues that the company lost its direction when it abandoned its roots, which were serving working adults, not recent high school graduates. … [I]t was the combination of chasing stock prices with the temptation of the open spigot of federal loans."

"I am proud to serve as the new president of University of Phoenix, and deeply grateful for the opportunity to build on the legacy of Dr. Pepicello. University of Phoenix has pioneered change throughout higher education, and I'm excited to lead this groundbreaking and innovative institution.I am passionate about higher education and strongly believe in the important role it plays in preparing our future leaders and helping to solve many of our most vexing societal challenges. I am committed to helping preserve and enhance the investment our students are making in their education, and ensuring they have the support and innovation from University of Phoenix they need to achieve their education and career goals."