STRA ... New Student Enrollments drops by 23% ... Tightening Belt ... Closing Campuses & Cutting Staff ...
Today (10/31) STRA reported that total enrollments at Strayer University for the 2013 fall term decreased 17% to 43,192 students compared to 51,727 students for the same term in 2012.
Their overall online Strayer University campus, continuing student enrollments decreased 14%, while new student enrollments decreased 23% ...
For better survival STRA announced drastic measures costing approximately $45-55 million in the fourth quarter, which includes:
___ Reduce headcount by approximately 20% and annual operating expenses by an estimated $50 million beginning in 2014
___ Close approximately 20 physical locations predominantly in the Midwest, making $30-40 million of the charges in the fourth quarter
___ Approximately $15 million charge is expected of the fourth quarter charges related to workforce reductions, which makes remaining portion of expected $45-55 million restructuring cost for fourth quarter
That's 43,191 students too many! Do they really educate people or do they just keep a whole bunch of loser there? Community colleges are way cheaper, and people get transferred to regular Universities after 2 years.
Close all them up!