Phoenix falling

Under pressure from the Education Department’s proposed changes in student loan rules, University of Phoenix will focus on increasing graduation rates rather than expanding enrollment. The announcement was followed by a 25 percent drop in the parent company’s stock price; the whole for-profit higher education sector nosedived in sympathy.

The for-profit giant will require new students to go through a free three-week orientation. In pilot projects, about 20 percent who go to orientation decide not to enroll.

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