Aspen University Executes Amendment to September 2022 Consent Agreement with the Arizona Board of Nursing that Permits the Teach-Out of its BSN Pre-Licensure Program to Continue

Rhea-AI Summary

Aspen Group, Inc. (Nasdaq: ASPU) announced on March 27, 2023, that its subsidiary, Aspen University, signed an Amendment to the September 2022 Consent Agreement with the Arizona Board of Nursing. This allows the continuation of the teach-out for the BSN Pre-licensure program. The university expressed gratitude towards the Board for the opportunity and stated its commitment to work cooperatively to meet educational standards and legal requirements. Aspen Group aims to provide affordable education through its universities, Aspen University and United States University.

Positive

• Amendment allows BSN Pre-licensure program to continue, ensuring educational opportunities for students.
• Aspen Group demonstrates commitment to meeting educational standards and cooperatively addressing Board concerns.

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• None.

NEW YORK, March 27, 2023 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (“Aspen Group” or “AGI”) (Nasdaq: ASPU), an education technology holding company, today announced that Aspen University, Inc. (“Aspen”) a subsidiary of Aspen Group, Inc., entered into an Amendment to the September 2022 Consent Agreement with the Arizona Board of Nursing (“the Board”) that permits the teach-out of the BSN Pre-licensure program to continue. Following execution of the Amendment, Aspen issued the following statement:

Aspen University Statement
March 24, 2023

On the evening of March 23, 2023, Aspen University and the Arizona Board of Nursing (“the Board”) signed an Amendment to the September 2022 Consent Agreement that permits the teach-out of the BSN Pre-licensure program to continue. On behalf of the Pre-licensure students and university administration, we are appreciative to the Board for the opportunity to move forward.

Aspen is committed to working closely with the Board, our Consultant and Ombudsperson to ensure that the program “provides minimum instruction and learning opportunities, including clinical opportunities, to meet basic standards of educational practice and legal requirements,” as required by the Consent Agreement. We are thankful to be able to establish a process by which we can work cooperatively with the Board to address any concerns about the program they may have.

We are deeply grateful to students who have tirelessly advocated for their education, our supportive Governor and Legislators, and all others who have assisted in this effort.

About Aspen Group, Inc.:

Aspen Group, Inc. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, Aspen University and United States University, to deliver on the vision of making college affordable again. For more information, visit www.aspu.com.

Investor Relations Contact:

Kimberly Rogers
Hayden IR
(385) 831-7337
Kim@HaydenIR.com
ircontact@aspen.edu

FAQ

What recent agreement did Aspen Group (ASPU) sign with the Arizona Board of Nursing?

Aspen Group signed an Amendment to the September 2022 Consent Agreement, allowing the continuation of the teach-out for the BSN Pre-licensure program.

How does the agreement impact students at Aspen University?

The agreement ensures that students can continue their education in the BSN Pre-licensure program while meeting required educational standards.

When was the Amendment to the Consent Agreement signed?

The Amendment was signed on March 23, 2023.

What is Aspen Group's commitment following the signing of the Amendment?

Aspen Group is committed to working closely with the Arizona Board of Nursing to ensure that the program meets educational and legal standards.