University of Phoenix has experienced steep enrollment declines, dropping from a height of 460,000 students at its campuses five years ago to 213,000 now, according to statistics released by its parent company, Apollo Education Corp.
CNN Money has stated that "Apollo's fast fall is another sign of the decline in for-profit education . . . Once a cash cow industry, for-profit education companies have struggled to overcome criticism of the quality of its education and the costs.  They're the sore spot in the national debate about value of higher education."



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