Profile: Bridgepoint Education Inc (BPI.N)
Bridgepoint Education, Inc. (Bridgepoint), incorporated in May 1999, is a provider of postsecondary education services. The Company’s academic institutions include Ashford University and University of the Rockies. Its institutions deliver programs primarily online, as well as at their traditional campuses. As of December 31, 2011, the Company had 86,642 total students enrolled in its institutions. Bridgepoint’s institutions conduct ongoing faculty and student assessment processes and provide a range of student services. The Company is also focused on developing new technologies, such as through Waypoint Outcomes, Constellation, and the development of its institutions' mobile learning platforms. The Company has developed Constellation to replace third party textbooks with digital course materials. Constellation materials are displayed in a browser-based platform. In January 2012, Bridgepoint introduced Thuze.
Ashford University offers associate's, bachelor's and master's degree programs online, as well as bachelor's degree programs at its campus in Clinton, Iowa. Ashford University consists of four colleges: the College of Business and Professional Studies, the College of Education, the College of Health, Human Services and Sciences, and the College of Liberal Arts. University of the Rockies is a graduate institution that offers master's and doctoral degree programs in the social and behavioral sciences. Classes at University of the Rockies are presented in a progressive online format, as well as at its campus in Colorado Springs, Colorado. Waypoint Outcomes provides learning and assessment software to K-12 and higher education institutions nationwide.
Constellation provides mobile access to students over the Internet, as well as on a variety of devices, including Web-enabled smartphones and tablet devices. Constellation is a cloud-based and is compatible across operating systems, browsers and mobile technologies. The Company has developed Constellation-enabled courses primarily in core classes to reach students. As of December 31, 2011, approximately 76% of Bridgepoint’s institutions' students had taken a Constellation-enabled course. As of December 31, 2011, it had 32 Constellation titles available. Thuze is a cloud-based, multi-platform, collaborative learning environment for students to interact with their course digital materials and with each other. Thuze provides students with the resources to work from both their desktop computers and also from their tablets and smartphones. It launched Thuze as a pilot program with publishers in higher education. During the year ended December 31, 2011, the Company deployed new mobile application technology at Ashford University. The Company has online students from all 50 states and from the District of Columbia. It has students from 69 different countries. As of December 31, 2011, over 34,400 students have graduated from the Company’s institutions, with approximately 15,200 students graduating from its institutions, during 2011.
Students finance their education at the Company's institutions through Title IV programs and Non-Title IV funding sources. Title IV programs includes The Federal Family Education Loan (FFEL) and Federal Direct Loan Programs. FFEL and Federal Direct Loan Programs consist of two loans: Stafford loans, which are either subsidized or unsubsidized, and PLUS loans, which are made available to graduate and professional students, as well as parents of dependent undergraduate students. Non-Title IV funding sources include other funding sources, which consist of cash, private loans, state grants, corporate reimbursement, military benefits and institutional loans. The Company has engaged Affiliated Computer Services, Inc. (ACS) to provide call center and transactional processing services for the online financial aid student populations at its institutions, including services related to disbursement eligibility review and Title IV fund returns. If Bridgepoint’s engagement with ACS were terminated, it would handle these processing services using its own resources or engage another third party vendor.
The Company’s institutions provide student support services, including academic, administrative and technology support. As of December 31, 2011, Bridgepoint’s institutions offered approximately 1,430 courses, 85 degree programs and 140 specializations. Its institutions offer programs and specialization areas through Ashford University's four colleges: the College of Business and Professional Studies; the College of Education; the College of Health, Human Services and Science; and the College of Liberal Arts, and through the University of the Rockies' two schools: the School of Organizational Leadership and the School of Professional Psychology. The Company’s leads are primarily generated from online sources. Its main source of leads is third party online lead aggregators. It also purchases keywords from search providers to generate online leads directly. In addition, the Company has an in-house team focused on generating online leads.
Bridgepoint Education Inc
13500 Evening Creek Drive North
SAN DIEGO CA 92128