NEW YORK, May 02, 2017 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (OTCQB:ASPU), a postsecondary education company, today announced Aspen University (“Aspen”) achieved a record 986 enrollments for the fiscal 2017 fourth quarter ending April 30, 2017, surpassing last quarter’s previous record of 825 by 20%. From a year-over-year perspective, enrollments increased from 572 to 986 or 72%.
Aspen’s rolling six-month average cost-per-enrollment (CPE) improved by 2% year-over-year, declining from $830 to $815. Aspen’s marketing efficiency ratio (revenue-per-enrollment/cost-per-enrollment) increased year-over-year from 8.4X to 8.6X, meaning that Aspen is now projecting to earn an 8.6X return on its marketing investments. Investors are encouraged to review the Company’s most recent Form 10-Q for a further description of this projected ratio.
Aspen’s student body started 4,536 new classes during the fiscal 2017 fourth quarter, compared to 2,784 a year earlier, an increase of 63% year-over-year. Additionally, the average tuition price for new class starts rose to $823 in Q4 FY’17, a 2% increase year-over-year from $810.
"It’s a testament to the quality of our people and our operational efficiency that our enrollments continue to rise year-over-year in the same percentage range as the increase of our marketing spend, meaning we’re continuing to scale without cost-per-enrollment degradation," said Michael Mathews, Chairman & CEO at Aspen University.
About Aspen Group, Inc. (OTCQB:ASPU)
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; 57% of Aspen University’s faculty hold doctoral degrees. To learn more about Aspen, visit www.aspen.edu.
Company Contact: Aspen Group, Inc. Michael Mathews, CEO 914-906-9159