(KFVS) - Enrollment at America's largest for profit university was about 460,000 students fives year ago. Now it's 213,000.
The University of Phoenix's parent company, Apollo education Group or (APOL), announced more losses Wednesday at the exchange.
Its revenues and enrollment both sank around 14 percent in its latest quarter compared to a year ago. Stock prices fell almost 30 percent by the bell on Wednesday.
In 2012, University of Phoenix closed around 115 of its campuses nationwide. This continuous fast fall is a sign of the decline in for-profit education.
For-profit colleges only enroll 12 percent of the country's students, but students at for-profit colleges accounted for about half of student loan defaults in 2013, according to federal data.
Apollo Education group had revenues close to $5 billion in 2010.
This year it will wishful thinking for the company to reach even $2 billion. With rough earnings and mounting challenges, the University of Phoenix has a difficult road ahead.