Aspen University’s Debtless Education Solution Exceeds a Majority of Its Tuition Revenues Only 18 Months Following Inception
52% of Tuition Revenues in September Paid Through Monthly Payment Methods
Recurring Monthly Tuition Billing Now Exceeds $275,000
NEW YORK, Oct. 06, 2015 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (OTCQB:ASPU), a nationally accredited online post-secondary education company (Aspen University), today announced that 18 months since its debtless education announcement, 52% of its tuition revenues in September were paid through a monthly payment method.
|Tuition Revenues by Payment Type (September):|
|Debtless Education Solution||52||%|
|-Monthly Payment Plan||40||%|
|-Monthly Installment Plan||12||%|
|Federal Financial Aid||20||%|
|Other (Corporate Tuition Reimbursement/Military)||8||%|
“18 months ago, Aspen was convinced that if working professionals were given the opportunity to pay for their college education through affordable monthly payment methods rather than incur debt, they would choose the debt free alternative,” said Aspen Group Chairman and CEO Michael Mathews. “Aspen’s student body has clearly decided that this is the preferred, fiscally intelligent method to pay for a college education,” continued Mathews.
In March, 2014, Aspen University unveiled a monthly payment plan aimed at reversing the college-debt sentence plaguing working-class Americans. The monthly payment plan offers bachelor students (except nursing) the opportunity to pay $250/month for 72 months ($18,000), nursing bachelor students (RN to BSN Completion program) $250/month for 39 months ($9,750), master students $325/month for 36 months ($11,700) and doctoral students $375 per month for 72 months ($27,000), interest free, thereby giving students the ability to earn a degree debt free. Additionally, Aspen offers a monthly installment plan for students that prefer to pay monthly only when they are currently active in a course.
As of month end September, Aspen University has 1,235 degree-seeking students enrolled in a monthly payment method, which delivers monthly recurring tuition billings in excess of $275,000 (not including miscellaneous fees).
About Aspen Group, Inc.
Aspen Group, Inc. is an online postsecondary 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 - 60% of our adjunct faculty hold doctoral degrees. To learn more about Aspen, visit www.aspen.edu.
Media Contact: Aspen Group, Inc. Michael Mathews, CEO 914-906-9159
Released October 6, 2015