|APOLLO EDUCATION GROUP INC filed this Form 8-K on 10/09/2015|
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): October 9, 2015
Apollo Education Group, Inc.
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code: (480) 966-5394
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Section 8 Other Events
On October 7, 2015, our wholly-owned subsidiary, University of Phoenix, Inc., was notified by the U.S. Department of Defense (DoD) that the University had been placed on probationary status in respect of its participation in the DoD Tuition Assistance Program for active duty military personnel, and that the DoD is considering whether to terminate the DoD Voluntary Education Partnership Memorandum of Understanding with the University (DoD MOU) which is the basis on which the Universitys active duty military students participate in the DoD Tuition Assistance Program. While on probationary status, currently eligible enrolled students will remain eligible to participate in the Tuition Assistance Program, but newly enrolled or transfer students of the University will not be eligible. In addition, while on probationary status the University will not be permitted to engage in various activities at military installations, including job training, career events, fairs and other sponsored events.
The DoD cited the following in support of its actions:
The University has previously taken action to resolve these DoD compliance issues, as follows:
In the October 7, 2015 notice of probation, the DoD acknowledged that the University has taken appropriate corrective action regarding these prior compliance issues.
As to the investigative demands to produce information, neither the FTC Civil Investigative Demand nor the California Attorney General subpoena contains any allegations of misconduct, and the University currently is cooperating fully with these agencies to produce the specified information. No charges have been made in connection with these investigations.
The DoD Notice indicates that the University of Phoenix has fourteen days from the date of the notice to submit relevant information to the DoD for its consideration. The DoD has stated that after review it may continue the Universitys eligibility to participate, with or without conditions, or may terminate the Universitys eligibility to participate in the DoD Tuition Assistance Program.
In fiscal year 2015, receipts from the DoD Tuition Assistance Program represented less than 1.0% of University of Phoenix net revenue, and during the fourth quarter of the fiscal year approximately 4,000 students received tuition benefits under the program.
University of Phoenix currently is reviewing this notice of probation. Because the status of probation is not specifically provided for in the DoD MOU, we cannot at this time evaluate the procedure or the timing for addressing this probation status or whether the University will be successful in doing so.