Detroit News: Student exodus saps Detroit school finances

by Jennifer Chambers D etroit can’t keep its schoolchildren: Each day, an estimated 25,000 school-age children go to suburban districts, leaving seats empty in classrooms citywide.More than 8,000 attend traditional districts in Oakland, Macomb and Wayne counties, while 17,000 are in suburban charters, state data from 2013-14 show.Some suburban districts, especially those in financial distress, now rely on Detroit’s children — and the state aid they bring with them — to survive.These reciprocal ties played out publicly this past week when East Detroit Public Schools, just north of Detroit’s Eight Mile border, reversed its decision to end participation in the state Schools of Choice program for students outside Macomb County.Read the rest of the story at the Detroit News

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CNN Money: University of Phoenix has lost half its students

The University of Phoenix probably wishes the students were just cutting class. But many aren’t even enrolled anymore.Enrollment at America’s largest for-profit university was about 460,000 students five years ago. Now it’s 213,000.The University of Phoenix’s parent company, Apollo Education Group (APOL), announced more losses Wednesday. Its revenues and enrollment both sank roughly 14% in its latest quarter compared to a year ago.Apollo CEO Greg Cappelli tried to strike an optimistic tone, but investors gave the stock an “F” for falling. The stock tanked almost 30% Wednesday. Read the rest of the story on CNN Money.

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