Washington Post 2015 Annual Report Download - page 26

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multiple Kaplan University campuses as well as a broad review of Kaplan University’s academics and policies.
Although we cannot at this time predict the outcome of this process, Kaplan University expects this process to be
complete by the end of 2016.
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. Kaplan University programs
maintain a variety of programmatic accreditations that KHE believes are appropriate to ensure the quality of the
programs or to enable students to seek necessary credentials upon graduation.
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of the date the school determines that the student has withdrawn.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, or
in a program review or Office of the Inspector General (OIG) 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 2015, Kaplan Test Preparation (KTP) included test preparation businesses in pre-college, graduate, health and
bar review, as well as new businesses in new economy skills training (NEST) and in career advising. 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 50 states and the District of Columbia, as well as review for
the multistate portion of the bar exam nationwide.
KTP delivers courses at numerous venues throughout the U.S., Canada, Puerto Rico, Mexico and London. These
courses are taught at more than 70 KTP-branded locations and at numerous other locations such as hotels, high
schools and universities. KTP also offers courses online, typically in a live online classroom or a self-study
format. Private tutoring services are provided in person in select markets and online throughout the U.S. In
addition, KTP licenses material for certain of its courses to third parties and to a Kaplan affiliate, which, during
2015, delivered courses at 31 locations in 50 countries outside the U.S. KTP also offers college admissions
examination preparation courses and materials directly to high schools and school districts.
During 2015, KTP enrolled over 360,000 students in its courses, including more than 155,000 enrolled in online
programs.
New Economy Skills Training. In 2015, KTP entered the NEST market in New York, California and Illinois
with two offerings. The acquisition of Dev Bootcamp established KTP as a leader in software developer
bootcamps, which are programs that provide students with job-ready computer coding skills. KTP also launched
Metis, which offers data science and plans to offer marketing and other NEST programs.
Publishing. Kaplan Publishing focuses on print test preparation resources sold through retail channels. At the
end of 2015, Kaplan Publishing had close to 300 products available in print and digital formats, including more
than 100 digital products.
11 GRAHAM HOLDINGS COMPANY