The biggest risk by far to U of Phoenix and other on-line useless for profit schools is the traditional universities slowly moving into this space with degrees that actually mean something. Plenty of Executive MBA programs being offered now by admired and prestigious schools where the degree actually means something. Bogus on-line schools have only one admission requirement - that you or the gov't can pay for it! Degrees for sale to anyone with the money - AND YOU GET WHAT YOU PAY FOR!! Does ANYONE really think a degree from U. of Phoenix means anything to someone who graduated from a good university? It means you're stupid if you ask me!! Paying for that joke of a degree and then saying its as good as a real degree with a straight face to me means you're an absolute fool.