Grand Canyon University sees enrollment surge

While most other for-profit educational colleges are facing shrinking enrollment, Grand Canyon University has grown its enrollment by 12.4 percent in the past year.

The university?s Phoenix-based parent Grand Canyon Education Inc. reported 44,400 students as of June 30, up from 39,500 during the same period a year earlier, according to its second quarter results filed today with the U.S. Securities and Exchange Commission.

While GCU President and CEO Brian Mueller expected to have 7,000 students on its physical campus this fall, those estimates were off a bit, with 6,500 students. ?We turned away over 500 that weren?t as strong academically or not in a strong position from a financial perspective,? he said.

This type of strategy is an about-face from previous years, when for-profit colleges and universities had more aggressive recruiting tactics. But those days are changing as regulators have investigated them for unscrupulous practices.

Last week, Sen. Tom Harkin, D-Iowa, chairman of the Senate Health, Education, Labor and Pensions Committee, released a report that outlined widespread problems throughout the sector.

Grand Canyon has not been immune to U.S. Department of Education program reviews. The education department found that GCU should have returned $3 million in Pell grants to the federal government after students unofficially withdrew from the university between July 1, 2008 and June 3, 2010.

After those students left the university, they also were responsible for paying back the university, Mueller said. But Mueller said he will not seek reimbursement from those students once GCU pays back the federal government.

The $3 million hit won?t hurt the university?s cash drawer too much. It had $105.6 million in cash and a $50 million revolving line of credit as of June 30.

Angela Gonzales covers health, biotech and education.

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