CLINTON, Iowa — Enrollment numbers and revenues continued to increase in 2009 for Bridgepoint Education, the parent company of Ashford University in Clinton.
The San Diego-based company, which also operates the University of the Rockies in Colorado Springs, Colo., saw revenues increase 108.1 percent to $454.3 million in 2009, according to a company report.
Enrollment at the two universities grew from 31,558 at the end of 2008 to 53,688 full- and part-time students at the end of 2009, an increase of about 70.1 percent. About 99 percent of students at Bridgepoint Education schools take classes exclusively online, according to the report.
The company is projecting enrollment at the two colleges to increase to between 69,000 and 71,000 at the end of 2010.
By comparison, the mega online campus University of Phoenix has about 455,600 students, Kaplan University has more than 103,000 students, and DeVry University has more than 80,000.
Bridgepoint also is expecting revenues this year between $688.2 million and $691.2 million.
Those revenue projections include a 5 percent tuition hike for online students at both colleges that goes into effect April 1. No tuition increases are planned for on-campus students.
“At the successful conclusion of our first year as a public company, I am pleased with our progress to date on a number of fronts, as is positively reflected in favorable quarter-over-quarter and year-over-year comparisons across all of our key reporting metrics,” Andrew Clark, Bridgepoint Education CEO, said.
Bridgepoint Education recently purchased the former Clinton Country Club, located less than two miles from the Ashford campus in Clinton, for $2.4 million. It plans to use the property to build a track and an artificial turf soccer field that will meet the standards of the National Association of Intercollegiate Athletics.
Bridgepoint Education purchased the Clinton university in 2005. Since then, on-campus enrollment has nearly doubled from 332 to more than 600.
Clinton Mayor Rodger Holm said the university’s continued growth has benefited the community by creating jobs and providing educational opportunities.
“It has meant a great deal to the city of Clinton,” Holm said.