90000
Bridgepoint Education Enrollment, from 2005 Purchase
through 2010
80000
77,892
70000
Number of Students
60000
53,688
50000
40000
31,558
30000
20000
12,623
10000
4,471
0
332
1,063
Purchase(3/2005)
2005
2006
Source: Bridgepoint Education SEC Statements End of Year Enrollment
2007
2008
2009
2010
Outcomes of 40,866 Bridgepoint Bachelors Students Enrolling in
2008‐2009 as of September 30, 2010
Withdrawn
63.4%
Still Enrolled
30.7%
Source: Senate HELP Committee Analysis of Documents Provided by School
Completed
5.9%
Outcomes of 7,931 Bridgepoint Associates Students Enrolling in
2008‐2009 as of September 30, 2010
Withdrawn
84.4%
Still Enrolled
14.4%
Source: Senate HELP Committee Analysis of Documents Provided by School
Completed
1.2%
Bridgepoint Profit, 2007‐2010
$250,000,000
$216,421,000
$200,000,000
$150,000,000
$100,000,000
$81,730,000
$50,000,000
$33,420,000
$0
$3,983,000
2007
Source: Bridgepoint Education SEC Statements
2008
2009
2010
$250,000,000
Bridgepoint Education One Year Profit Increase, 2009‐2010
$216,421,000
$200,000,000
$150,000,000
$100,000,000
$81,730,000
$50,000,000
$0
2009
Source: Bridgepoint Education SEC Statements
2010
Bridgepoint Federal Dollars, 2009
Including $443,114 in
Iowa Student Aid
13.4%
0.1%
$333.6 million
Total Federal
Dollars
86.5%
Federal Dollars
State Aid Dollars
Source: Senate HELP Committee Analysis of Documents Provided by School
Nonpublic Dollars
Bridgepoint Spending, 2010
(Administration,
Bad Debt Expense,
Instruction, Faculty
Salaries, Student
Services, and
Executive
Compensation)
Other 40.0%
Marketing 29.7%
Profit 30.3%
Source: Bridgepoint Education SEC Statements
Staffing Levels for Recruiting, Student Services, Financial Aid and Career
Placement, 2007‐2010
1800
1,703 Recruiters
77,892
1600
80,000
70,000
1200
60,000
53,688
1000
50,000
800
40,000
31,558
600
30,000
400
20,000
12,623
200
10,000
0
0
2007
Enrollment
Student Services
2008
2009
Recruiting and Admissions
Financial Aid Assistance
Source: Senate HELP Committee Analysis of Documents Provided by School
2010
Career Services and Placement
Number of Students
Number of Employees
1400
90,000
Amount Spent on Instruction Per Student, 2004‐2009
$6,000
$5,034
$5,000
Mount St. Clare College
$4,000
$3,000
$2,174
March 2005‐Purchase of College by Bridgepoint, Inc.
$2,000
$1,066
$1,000
$841
$914
2007
2008
$700
$0
2004
2005
2006
Source: Senate HELP Committee Analysis of Department of Education IPEDS Data
2009
Amount Spent on Instruction Per Student, 2009
$14,000
$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
Bridgepoint
University of Iowa
Source: Senate HELP Committee Analysis of IPEDS Data
Iowa State
Kirkwood Community
College
Amount Spent on Instruction, One Year Drop from 2007 to 2008
$1,200
$1,133
$1,000
$800
$600
$377
$400
$200
$0
1/1/2007‐4500 Students
Source: Senate HELP Committee Analysis of Bridgepoint Document BPI‐HELP_00048267
12/31/2008‐31,000 Students
Amount Spent Per Student for Instruction, Recruiting, Default
Management, and Profit, 2009
$3,000.00
$2,714
$2,500.00
$2,000.00
$1,522
$1,500.00
Recruiting
Profit
$1,000.00
$700
$495(Estimate)
$500.00
Instruction
Delinquent
Cure
$‐
Bridgepoint SEC Statements and Senate HELP Committee Analysis of Documents Provided by School
Bridegpoint EducaƟon, Actual Enrollment Totals
140,000
80,000
60,000
20,000
-
49,223
40,000
{
36,600
31,558
12,623
2008
StarƟng Enrollment
{
61,500
53,688
31,558
2009
New Students Added Jan. 1-Dec. 31
Source: Bridgepoint EducaƟon SEC Statements
{
82,350
77,892
136,038
100,000
93,058
Number of Students
120,000
53,688
2010
Reported Year-End Enrollment
Enrollment Growth Since Inspector General Audit Period
90000
77,892 Total Students
80000
70000
Number of Students
60000
50000
40000
30000
20000
10000
4,471 Total Students
202 Students Sampled
0
2006
Source: Bridgepoint SEC Statement and Inspector General Audit
2010
Bridegpoint Education 2 and 3‐Year Cohort Default Rates
25.00%
21.5%
Percentage of Students Defaulting
20.00%
17.2%
15.00%
13.1%
10.00%
13.3%
8.8%
6.1%
5.00%
4.1%
4.1%
0.00%
2005
Source: Department of Education Cohort Default Rate Data
2006
2‐Year CDR
2007
3‐Year CDR
2008
Bridgepoint Tactics for "Managing" Delinquent Students
2009
Payment (183 Students)
2010
17.1%
(Payment 130 Students)
15.3%
40.4%
Deferment (388
Students)
36.2%
Deferment (344
Students)
Forbearance (500
Students)
46.7%
Forbearance (377
Students)
2009‐1,071 Default Cures Out of 13,954 borrowers given to GRC
Source: Senate HELP Committee Analysis of Documents Provided by School
44.3%
2010‐851 Default Cures Out of 22,415 Borrowers given to GRC