July 31 For-profit education provider
Bridgepoint Education Inc said the accreditation body
for its university has postponed its visit and extended the
submission deadline for a compliance report.
Bridgepoint Education's Ashford University came under early
review by its accreditation body, Higher Learning Commission
(HLC), after the university was denied accreditation by another
Ashford University is now permitted to submit the report in
two phases, with the first phase due by August 31, and the
second phase due by Sept. 21, Bridgepoint Education said in a
regulatory filing. It was previously asked to submit the
compliance report by August 10.
Ashford University can now host the advisory visit by the
HLC in the week of Oct. 22. It was previously required to host
the visit by Oct. 9.
HLC has also asked Ashford to show by Dec. 1 how it plans to
demonstrate substantial presence in the 19-state north central
region in case it is not able to migrate to another
If the HLC does not accept Ashford's plans in its February
meeting, it can start the process of reconsidering its
A loss of accreditation can cut Ashford's access to federal
student aid, which would severely harm Bridgepoint's earnings.
Shares of the company closed at $9.10 on Tuesday on the New
York Stock Exchange.