HARD CHOICE ON SCHOOL LOOMS FOR BRIDGEPOINT
Accreditation denial for Ashford means jobs might leave S.D.
Bridgepoint Education soon may face tough decisions regarding its San Diego workforce after its Ashford University arm failed to win accreditation on Monday from a regional college certification agency.
The fast-growing, for-profit education company must address shortfalls in its scholastic programs pinpointed by the Western Association of Schools and Colleges, or WASC, analysts and education experts said. At the same time, it must juggle its business operation quickly to save its current accreditation — possibly relocating an unknown number of jobs out of San Diego in the process.
“We believe numerous and potentially expensive changes will need to occur before WASC accredits Bridgepoint, and it could take several years,” said Brandon Dobell, an analyst with William Blair & Co. in Chicago.
Maintaining accreditation is critical for Bridgepoint, since it is a precondition to participating in federal financial aid programs, including Pell Grants and government-backed student loans. The company received more than 85 percent of its $933 million in revenue from federal student