2. FORWARD-LOOKING STATEMENTS
This presentation may contain forward-looking statements including, without limitation, statements with respect
management’s expectations regarding student persistence, institutional accreditation, the results of the Company's
initiatives, emerging trends, Q3 2013 campaign, 2013 outlook, financial results and and related commentary. These
statements involve risks and uncertainties, and the Company's actual performance may differ materially from those
expressed in or suggested by such statements. Risks and uncertainties include, without limitation:
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failure to comply with the extensive regulatory framework applicable to the Company and its institutions,
including Title IV of the Higher Education Act and its regulations, state laws and regulatory requirements, and
accrediting agency requirements;
adverse regulatory or legislative changes affecting the Company's institutions;
the imposition of fines or other corrective measures against the Company's institutions;
competition in the postsecondary education market and its potential impact on the Company's market share and
recruiting costs; and
reputational and other risks related to potential compliance audits, regulatory actions, negative publicity or
service disruptions.
More information on potential factors that could affect the Company's performance is included from time to time in
the “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations”
sections of the Company's periodic reports filed with the SEC, including the Company's Annual Report on Form 10K for the year ended December 31, 2012, filed with the SEC on March 12, 2013 and amended on May 17, 2013, and
Quarterly Report on Form 10-Q for the quarter ended March 31, 2013, filed with the SEC on May 15, 2013, and the
quarterly report on Form 10Q for the quarter ended June 30, 2013, filed with the SEC on August 6, 2013. Forwardlooking statements are made on the basis of management's views and assumptions regarding future events and
business performance as of the time the statements are made, and the Company assumes no obligation to update
any forward-looking statements or information, which speak as of their respective dates, except as required by law.
3. RECOGNIZED BRANDS
Ashford University
University of The Rockies
• AA, BA, MA, MBA
• MA, PsyD, PhD
• 17 NAIA Sports Teams
• Social & Behavioral Sciences
• Online & Clinton, IA Campus
• Colorado Springs Campus
• WASC approved -- 5 years*
• Denver Instructional Site
• Forbes Alliance
• HLC Accredited
AU and UOR Students
AU Programs
Doc
1%
MA
13%
AA
9%
Non-D
1%
Edu
21%
BA
77%
99% Online
Hcare
23%
Bus
33%
71% Female
48% Minority
Lib
Arts
23%
37 Years Old
*On July 10, 2013, the WASC granted Initial Accreditation to Ashford University for five years, subject to, among
other things, approval of U.S. Department of Education.
6. INNOVATION
&
R.E.A.L. Dashboard
“… these systems hold tremendous promise for ensuring educational quality …“*
Ralph Wolff, WASC
MOBILE ACCESS
&
Apple™/ Android™
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Constellation
Students
Classroom
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*A copy of the WASC action letter and visiting team report from the review of Ashford University is available
on the WASC website at www.wascsenior.org
Admin
Faculty
Grade Book
7. QUALITY
Quality Initiatives
University Advisors
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Extend relationship to 26 wks
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Learning
Problem-solving Focus
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Smaller Class Sizes
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Continued Technology Investment
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InsideTrack
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120 Constellation titles
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2 Advisors thru 4th Course
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Waypoint in more than 200 AU courses
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Measure Student Engagement
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Predictive Modeling
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Better Persistence
Faculty
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More Full-Time Faculty
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Faculty Forums: Course, Program Development
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Faculty Training, Mentoring
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Measure Faculty Effectiveness
Student Support
Quality Matters
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> 85% of AU Courses Certified
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Clear Industry Leader
8. Forbes School of Business
Grad & Undergrad
Forbes Brand Expands AU Corporate Relationships
Growing Digital Presence Reaches Online Students
Unique Speaker Events for Online Students
More than 1200 Forbes Contributors
Unique Learning Material Creates Value for Students
10. BRAND STRATEGY
• Branding Reinforces the Value Proposition
• Combines Traditional & Interactive Media:
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Attract learners most likely to persist / graduate
• Media Mix Optimization:
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Advanced analytics targets effective media channels
Increases organic student inquiries
• Brand Strength:
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Build on and maintain positive momentum, perception and sentiment
• Overall Goal: “Organic” Inquiries
11. BRAND CAMPAIGN
TECHNOLOGY CHANGES EVERYTHING.
Q3 2013 Campaign -- Early Results
Organic channels show continued strength -Since campaign launch:
35% increase in Organic inquiries
41% increase in new enrollments from Organic channels
11% increase in conversion of Organic applications
Even greater increase in Total Conversion (inc. non-Organic)
13. FINANCIAL MODEL HIGHLIGHTS
• Highly Competitive Tuition Pricing
One of the lowest in the sector
Below Title IV Loan Limits
• Increasing Investment in Student Success
• Emerging Trends:
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Continued Student Demand
Increasing Advisor Productivity
Branding: Increasing Organic Interest
Improving Persistence
No Accreditation Headwind
• Strong Cash Position, No Debt
14. REGULATORY UPDATE
• WASC Approval Announced July 10, 2013
“What have resulted are self-reflection and evaluation,
significant change, and excitement for that which is now
occurring. Indeed, the changes that have occurred in such a
short time border on being revolutionary. They include what
the team considers to be a number of “best practices” and
what can become a model for online higher education for a
non-traditional student population.”
WASC Visit Team Final Report, May 2013
• DoE Approved WASC accreditation Nov. 8, 2013
-- PPA document in process
