Q2 Starts With Monthly Record of 518 New Student Enrollments in August
Nursing Student Body Grows to 3,569 or 66% YoY
NEW YORK, Sept. 05, 2017 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (Nasdaq:ASPU), a postsecondary education company, today announced
that despite summer seasonality Aspen University achieved a quarterly record of 1,025 new student enrollments for the fiscal 2018
first quarter ending July 31, 2017, surpassing last quarter’s previous record of 986. From a year-over-year perspective, new
student enrollments increased 65%, from 621 to 1,025.
Aspen’s rolling six-month average cost-per-enrollment (CPE) decreased sequentially in Q1 FY’18 from $815 to $812. As a result,
Aspen’s marketing efficiency ratio (revenue-per-enrollment/cost-per-enrollment) remained at 8.6X, meaning that Aspen is projecting
to earn an 8.6X return on its marketing investments.
Aspen’s total active student body grew year-over-year from 3,252 to 5,015, an increase of 54%. Aspen’s School of Nursing grew
66% year-over-year, from 2,144 to 3,569 active students. Aspen’s RN to BSN program accounted for the majority of the growth, from
1,245 to 2,260 active students, an increase of 1,015 active student’s, or 82% year-over-year.
“We are seeing immediate results following the increase of our enrollment center to 50 Advisors. Not only did we achieve for the
first time over 1,000 new student enrollments in our seasonally weakest summer quarter, but we followed that milestone by enrolling
518 new students in August, which sets us up for a strong sequential enrollment increase in our current quarter,” said Chairman &
CEO, Michael Mathews.
About Aspen Group, Inc.:
Aspen Group, Inc. is a post-secondary education company. Aspen University’s mission is to offer any motivated college-worthy
student the opportunity to receive a high quality, responsibly priced distance-learning education for the purpose of achieving
sustainable economic and social benefits for themselves and their families. Aspen is dedicated to providing the highest quality
education experiences taught by top-tier faculty; 54% of Aspen University’s faculty hold doctoral degrees. To learn more about
Aspen, visit www.aspen.edu.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding the Company’s projected return on its marketing investments and expectations and projections
regarding the second quarter of fiscal 2018. We have based these forward-looking statements largely on our current expectations and
projections about future events and financial trends that we believe may affect our financial condition, results of operations,
business strategy and financial needs. Important factors that could cause actual results to differ from those in the
forward-looking statements include unexpected regulatory issues, competition, increases in our marketing costs, declines in
enrollment, changes in our students’ academic preferences, ineffective marketing, poor allocation of our marketing spend and errors
in the assumptions underlying the calculation of our marketing efficiency ratio. Further information on our risk factors and a
detailed description of our marketing efficiency ratio is contained in our Annual Report on Form 10-K filed with the SEC on July
25, 2017. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or
events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of
them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by law.
Company Contact: Aspen Group, Inc. Michael Mathews, CEO 914-906-9159
