Sept 28 (Reuters) - For-profit education company Bridgepoint Education Inc said its Ashford University will withdraw its appeal against the decision of Western Association of Schools and Colleges (WASC) to deny it accreditation.
Ashford University was denied accreditation to WASC in July, prompting another agency - the Higher Learning Commission - to review its accreditation to the for-profit college.
Ashford University said it expects to re-apply for accreditation by Oct. 11.
Ashford University cut 450 jobs dealing solely with admissions and re-assigned another 200 admissions personnel to the student services department earlier this month after the WASC said the college spends more money on recruiting students than on teaching them.
Loss of accreditation can deny the college access to federal student aid, which makes up for most of its parent company’s revenue.
Shares of San Diego, California-based Bridgepoint Education closed at $10.15 on the New York Stock Exchange on Friday.