Washington Post 2013 Annual Report Download - page 28

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Programmatic accreditation is the process through which specific programs are reviewed and approved by industry-
specific and program-specific accrediting entities. Although programmatic accreditation is not generally necessary for Title
IV eligibility, such accreditation may be required to allow students to sit for certain licensure exams or to work in a
particular profession or career or to meet other requirements.
Return of Title IV Funds. ED regulations require schools participating in Title IV programs to calculate correctly and return
on a timely basis unearned Title IV funds disbursed to students who withdraw from a program of study prior to completion.
These funds must be returned in a timely manner, generally within 45 days of the date the school determines that the student
has withdrawn. Under ED regulations, failure to make timely returns of Title IV program funds for 5% or more of students
sampled in a school’s annual compliance audit could result in a requirement that the school post a letter of credit in an
amount equal to 25% of its prior-year returns of Title IV program funds. Currently, none of KHE’s schools is required to post
a letter of credit. If unearned funds are not properly calculated and returned in a timely manner, an institution is subject to
monetary liabilities, fines or other sanctions.
Test Preparation
In 2013, Kaplan Test Preparation (KTP) included test preparation businesses in pre-college, graduate, health and bar
review. KTP also published test preparation and other books through its Kaplan Publishing business. Each of these
businesses is discussed below.
Test Preparation. KTP’s pre-college and graduate businesses prepare students for a broad range of college and
graduate school admissions examinations, including the SAT, ACT, LSAT, GMAT, MCAT and GRE. KTP’s health business
prepares students for medical and nursing licensure exams, including the USMLE and NCLEX. Kaplan Bar Review offers
full-service bar review in 42 states and the District of Columbia, as well as review for the multistate portion of the bar
exam nationwide.
KTP delivers courses at numerous locations throughout the U.S., Canada, Puerto Rico, Mexico and London. These
courses are taught at more than 60 KTP-branded locations and at numerous other locations such as hotels, schools and
universities. KTP also offers courses online, which are delivered in a live online classroom and a self-study format. In
addition, KTP licenses material for certain of its courses to third parties and to a Kaplan affiliate, which, during 2013,
delivered courses at 64 locations in 21 countries outside the U.S. KTP also offers programs and services, including
college admissions examination preparation courses, directly to schools and school districts for students in kindergarten
through 12th grade, and customized online programs for children from kindergarten through 8th grade and private
tutoring in select markets.
During 2013, KTP enrolled approximately 415,000 students in its courses, including more than 170,000 enrolled in
online programs.
Publishing. Kaplan Publishing focuses on print test preparation resources sold through retail channels. At the end of
2013, Kaplan Publishing had more than 540 products available in print and digital formats, including more than 320
digital products.
Kaplan International
Kaplan International operates businesses in Europe and the Asia Pacific region. Each of these businesses is discussed
below.
Europe. In Europe, Kaplan International operates the following businesses, all of which are based in the U.K. and
Ireland: Kaplan UK, Kaplan International Colleges (KIC) and a set of higher education institutions.
The Kaplan UK business in Europe is a provider of training, test preparation services and degrees for accounting and
financial services professionals, including those studying for ACCA, CIMA and ICAEW qualifications. In addition,
Kaplan UK provides legal and professional training, including the operation of a U.K. law school in collaboration with
Nottingham Trent University’s Nottingham Law School. In 2013, Kaplan UK provided courses to approximately
65,000 students, of whom 48,000 were dedicated to accounting and financial services coursework. Kaplan UK is
headquartered in London, England, and has 27 training centers located throughout the U.K.
The KIC business comprises a university pathways business and an English-language training business. The university pathways
business offers academic preparation programs especially designed for international students who wish to study in English-
speaking countries. In 2013, university preparation programs were being delivered in Australia, China, Kurdistan, Nigeria,
Singapore, the U.K. and the U.S., servicing 12,000 students in partnership with 50 universities.
10 GRAHAM HOLDINGS COMPANY