Brian Mueller, CEO of Grand Canyon Education Inc (LOPE), says the company is growing enrollment both online and on its ground campus. He says online enrollment is expected to grow 6 or 7 percentage points a year.
“We are today at just under 60,000 online students, and we will grow that to 80,000, 90,000 students over the next five or six years,” he says. “We’ve had a very steady rate of increase. Increasingly, the students that are attending online are graduate students — master’s and doctoral students primarily.”
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Mueller says growth on Grand Canyon’s ground campus is even more robust. Current enrollment is about 16,000, and he says it should hit 25,000 to 30,000 students in the next four to five years. Historically, a greater percentage of Grand Canyon’s revenue has been from online enrollment as compared to ground campus revenues, but Mueller says that gap is closing.
“Last time I spoke to you, about 10% of our revenues were from ground students and about 90% from online students,” he says. “Today, it’s 20% ground students and 80% online students.”
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