Business & Tech
With Student Enrollment Falling, DeVry Freezes Tuition Costs
The Downers Grove-based for-profit university's parent company's third quarter results last week showed marked drops in income, enrollment rates and earnings per share.
Downers Grove-based DeVry University will lock in its rising tuition costs starting in July after a poor DeVry Inc. third-quarter earnings report last week—with drops in undergraduate enrollment, revenue and net income—led to a 20 percent Wednesday drop in shares, the Chicago Tribune reports.
"Given the continued economic challenges facing our country, we believe taking this step toward curbing the national trend of rising tuition costs is a prudent decision," the paper quoted the for-profit university saying in a statement.
According to the paper, DeVry University has been cutting jobs and reducing other costs to compensate for a bad year in 2012 that saw undergraduate enrollment fall 12 percent.
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