Anthem Education Group
Anthem Education Group ___________________________________
Introduction
Anthem Education Group (“Anthem”) offers primarily career-focused Certificate and Associate degree programs. Unlike many for-profit education companies examined, Anthem has not experienced steady growth in student enrollment and profit realized in recent years. Largely as a result of sanctions from one of its brand’s accreditors in 2007, the company was forced to close campuses leading to a decline in enrollment, a lack of profitability, and continuing shifts in management and ownership. While Anthem’s relatively low student withdrawal rates suggest students are persisting in the company’s programs, the company’s high rates of student loan default call into question whether Anthem students are receiving an education that affords them the ability to repay the debt incurred.
Company Overview
Anthem is a privately held, for-profit education company headquartered in Phoenix, AZ, that is principally owned by the Pobiak Family Trusts, and Great Hill Equity Partners and Great Hill Investors.1019 Through a series of acquisitions and new campus openings, the company has grown to include over 22 campuses in 15 States and an online division. Founded in 1965, the Electronic Institute of Arizona was acquired by Dennis and Marilyn Pobiak and renamed High-Tech Institute, Inc. 1020 In 1999, Great Hill Equity Partners, a Boston private equity firm, acquired 50 percent interest in High-Tech Institute, Inc.1021 High-Tech Institute, Inc. acquired the Chubb Institute in 2004 and renamed it Anthem institute in 2008.1022 In March 2009, the private equity controlled High-Tech Institute, Inc. and TCI Education, Inc. and its family of schools began to operate under the umbrella name of Anthem Education Group LLC.1023 At the time, the company operated schools under the names High-Tech Institute, Anthem Career College, Anthem College, Anthem College Online, Anthem Institute, Morrison University and the Bryman School
Introduction
Anthem Education Group (“Anthem”) offers primarily career-focused Certificate and Associate degree programs. Unlike many for-profit education companies examined, Anthem has not experienced steady growth in student enrollment and profit realized in recent years. Largely as a result of sanctions from one of its brand’s accreditors in 2007, the company was forced to close campuses leading to a decline in enrollment, a lack of profitability, and continuing shifts in management and ownership. While Anthem’s relatively low student withdrawal rates suggest students are persisting in the company’s programs, the company’s high rates of student loan default call into question whether Anthem students are receiving an education that affords them the ability to repay the debt incurred.
Company Overview
Anthem is a privately held, for-profit education company headquartered in Phoenix, AZ, that is principally owned by the Pobiak Family Trusts, and Great Hill Equity Partners and Great Hill Investors.1019 Through a series of acquisitions and new campus openings, the company has grown to include over 22 campuses in 15 States and an online division. Founded in 1965, the Electronic Institute of Arizona was acquired by Dennis and Marilyn Pobiak and renamed High-Tech Institute, Inc. 1020 In 1999, Great Hill Equity Partners, a Boston private equity firm, acquired 50 percent interest in High-Tech Institute, Inc.1021 High-Tech Institute, Inc. acquired the Chubb Institute in 2004 and renamed it Anthem institute in 2008.1022 In March 2009, the private equity controlled High-Tech Institute, Inc. and TCI Education, Inc. and its family of schools began to operate under the umbrella name of Anthem Education Group LLC.1023 At the time, the company operated schools under the names High-Tech Institute, Anthem Career College, Anthem College, Anthem College Online, Anthem Institute, Morrison University and the Bryman School