HEI continues to generate a strong international audience. While a substantial portion of our viewers are from the US, we have people (and bots) from across the globe reading our articles and Youtube posts. Our coverage lately, on the revocation of student visas, and of deportations, is particularly important for international students, particularly those who are concerned about US intervention in the Middle East, Asia, and Latin America. For some unknown reasons, we have little traffic from folks in African countries or Latin America countries (other than Mexico). We also have fewer than expected numbers from Canada and India. If there is anything we can do to increase those viewership numbers, please let us know.
Tag: Continues
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Higher Education Inquirer continues to follow IPO/sale of University of Phoenix
On March 6, 2025, Apollo and Vistria publicly announced a possible IPO or sale of the University of Phoenix. These companies have been trying to sell the University of Phoenix since 2021, but there have been no takers. The owners claim the school is worth $1.5M to $1.7M, but we (and experts we know) are skeptical, given the financials we have seen so far. The University of Phoenix was previously on sale for about $500M-$700M but the University of Arkansas System, the State of Idaho, and apparently other colleges declined the offers.
The University of Phoenix offers subprime education to folks,
historically targeting servicemembers, veterans, and people of color. While some students may profit from these robocollege credentials, one wonders what
these workers actually learn. The current student-teacher ratio at the
University of Phoenix, according to the US Department of Education, is
132 to 1.In 2023 we made a Freedom of Action (FOIA) request to the US Department of Education (ED) to get Phoenix’s most recent audited financials. In March 2025, more than 20 months later, we were provided with a 35-page report, audited by Deloitte, with numbers from 2021 and 2022.
This month the Higher Education Inquirer followed up with a Freedom of Information request with the ED to obtain more up-to-date financial numbers for the University of Phoenix. We hope they will be responsive and timely enough to get the word out to the public.
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Ambow Education Continues to Fish in Murky Waters
In May 2022, The Higher Education Inquirer began investigating Ambow Education after we received credible tips about the company as a bad actor in US higher education, particularly with its failure to adequately maintain and operate Bay State College in Boston. The Massachusetts Attorney General had already stepped in and fined the school in 2020 for misleading students.
As HEI dug deeper, we found that Ambow failed years before under questionable circumstances. And we worked with a number of news outlets and staffers in the offices of Senator Elizabeth Warren and Representative Ayanna Pressley to get justice for the students at Bay State College.
Since that 2022 story we continued to investigate Ambow Education, its CEO Jin Huang, and Ambow’s opaque business practices. Not only were we concerned about the company’s finances, we were wary of any undue influence the People’s Republic of China (PRC) had on Ambow, which the company had previously acknowledged in SEC documents.
A Chinese proverb says it’s easier to fish in murky waters. And that’s what it seemed like for us to investigate Ambow, a company that used the murky waters in American business as well as anyone. But not everything can remain hidden to US authorities, even if the company was based out of the Cayman Islands, with a corporate headquarters in Beijing.
In November 2022, Ambow sold all of its assets in the People’s Republic of China, and in August 2023 Bay State College closed abruptly. We reported some strange behaviors in the markets to the Securities and Exchange Commission, but they had nothing to tell us. Ambow moved its headquarters to a small rental space in Cupertino, where it still operates.
In 2024, Ambow began spinning its yarns about a new learning platform, HybriU, using Norm Algood of Synergis Education as its huckster. HybriU presented at the Computer Electronics Show in Las Vegas and at the ASU-GSV conference in San Diego and used those appearances as signs of legitimacy. It later reported a $1.3 million contract with a small company out of Singapore.
In 2025, Ambow remains alive but with fewer assets and only the promise of doing something of value. Its remaining US college, the New School of Architecture and Design, has had problems paying its bills, and there are at least two cases in San Diego Superior Court pending (for failure to pay rent and failing to pay the school’s former President). However, Ambow has been given a clean bill of health by its regional accreditor, WSCUC.
A report by Argus Research, which Ambow commissioned, also described Ambow in a generally positive light, despite the fact that Ambow was only spending $100,000 per quarter on Research and Development. That report notes that Prouden, a small accounting firm based in the People’s Republic of China is just seeing Ambow Education’s books for the first time. In April 2025 we wonder if we’ll get adequate information when Ambow reports its 2024 annual earnings, or whether we find just another layer of sludge.
