Washington Post 2014 Annual Report Download - page 18

KHE Campuses. At the end of 2014, the KHE Campuses business comprised 42 schools in 12 states that were providing
classroom-based instruction to approximately 14,300 students, which did not include the approximately 6,400 students
enrolled at Kaplan University’s on-ground campuses. Each of these schools is accredited by one of several regional or
national accrediting agencies recognized by the U.S. Department of Education (ED).
During 2014, Kaplan ceased enrollment at its Atlanta (Bauder), Cleveland and Jacksonville ground campuses. In each
case, KHE has taught and will continue to teach all courses in progress at the campuses until their completion. Revenues
at these three campuses represented approximately 1.2% of KHE’s total revenues and 0.6% of Kaplan, Inc.’s total
revenues for 2014. In 2014, Kaplan completed the teach-out of previously announced campus closures in Dearborn, MI,
and Phoenix, AZ, and announced closures of Mount Washington College campuses in Portsmouth, Concord, Nashua
and Salem, NH.
On February 15, 2015, Kaplan and KHE entered into an agreement to sell substantially all the assets of its KHE
Campuses business, consisting of 38 nationally accredited ground campuses, and certain related assets. The transaction
is subject to regulatory and accrediting agency approvals.
Program Offerings and Enrollment
Kaplan University and KHE Campuses offer certificate and degree programs in a variety of subject areas. Among them
are the following:
Certificate Associate’s Bachelor’s Master’s
•Arts and Sciences
•Business Management*+
•Criminal Justice~
•Education Studies*
•Health Sciences
•Information Systems and
Technology*+
•Legal and Paralegal
Studies+
•Nursing~+
•Trades~
•Arts and Sciences
•Business/Management
•Criminal Justice
•Fire Safety and Emergency
Management
•Health Sciences
•Information Systems and
Technology
•Legal and Paralegal Studies
•Nursing
•Public Administration
•Arts and Sciences
•Business/Management
•Criminal Justice
•Fire Safety and Emergency
Management
•Health Sciences
•Information Systems and
Technology
•Legal and Paralegal Studies
•Nursing
•Political Science and Public
and Environmental Policy
•Arts and Sciences
•Business/Management
•Criminal Justice
•Health Sciences
•Education Studies
•Information Systems and
Technology
•Legal and Paralegal Studies
•Nursing
•Public and Environmental
Policy
~ certificate/diploma
* graduate certificate
+ post-baccalaureate certificate
Kaplan University and KHE Campuses enrollments by certificate and degree programs were as follows:
At December 31
2014 2013 2012
Certificate .................................. 20.6% 21.7% 23.2%
Associate’s .................................. 27.4% 29.7% 29.1%
Bachelor’s .................................. 34.2% 32.3% 33.8%
Master’s .................................... 17.8% 16.3% 13.9%
Total ..................................... 100.0% 100.0% 100.0%
Financial Aid Programs and Regulatory Environment
Funds provided under the U.S. Federal student financial aid programs that have been created under Title IV of the U.S.
Federal Higher Education Act of 1965, as amended (Higher Education Act), historically have been responsible for a
majority of KHE revenues. During 2014, funds received under Title IV programs accounted for approximately $806 million,
or approximately 80%, of total KHE revenues, and 37% of Kaplan, Inc. revenues. The Company estimates that funds
received from students borrowing under third-party private loan programs comprised approximately 0.4% of KHE revenues.
Beginning in 2008 and continuing through 2014, as the private loan market deteriorated, KHE provided loans directly to
some Kaplan students under its third-party institutional loan program. Lending under Kaplan’s institutional loan program
totaled approximately 0.1% of KHE revenues in 2014. Direct student payments, funds received under various state and
agency grant programs and corporate reimbursement under tuition assistance programs accounted for most of the remaining
2014 KHE revenues. The significant role of Title IV funding in the operations of KHE is expected to continue.
2GRAHAM HOLDINGS COMPANY