Illinois Student Assistance Commission and Kaplan Announce Free Test Prep Courses

Rhea-AI Summary

Kaplan and the Illinois Student Assistance Commission (ISAC) have partnered to provide free test preparation courses to students at Illinois' public universities and five selected community colleges. The program offers preparation for various professional licensing exams, graduate-level admissions tests, and credential exams.

The initiative aims to address critical workforce shortages in Illinois, including projected deficits of 14,000 nurses and 6,000 doctors by 2030. The program covers preparation for exams including GRE®, GMAT®, LSAT®, MCAT®, NCLEX-RN®, USMLE®, Illinois State bar exam, and various professional certifications.

The pilot program includes five community colleges: Joliet Junior College, Carl Sandburg College, Southwestern Illinois College, Malcolm X College, and Morton College. Kaplan's All Access License, which powers this partnership, was recognized in Fast Company's 2024 World Changing Ideas Awards and Inc.'s 2024 Best in Business list.

Positive

• New contract to provide free test prep services to all Illinois public university students
• Program addresses critical workforce shortages in healthcare sector
• Expansion of Kaplan's successful All Access License program
• Recognition through multiple business awards in 2024

Negative

• None.

Insights

Educational Services Analyst

Kaplan Secures Major Illinois Contract, Strengthening GHC's Educational Services Portfolio

Kaplan's newly announced contract with the Illinois Student Assistance Commission represents a strategic expansion of Graham Holdings Company's (GHC) institutional education services business. This agreement will provide test preparation services to students across all 12 Illinois public universities and five community colleges, targeting high-stakes exams including the MCAT, LSAT, GRE, and various professional licensing tests.

The contract's financial impact, while not explicitly disclosed, could be substantial. With approximately 150,000 students enrolled in Illinois public universities and thousands more at the participating community colleges, this represents a significant addressable market. Typical Kaplan test prep courses range from $700-$3,000 per student, suggesting this contract could potentially generate millions in annual revenue for GHC's education division.

This agreement aligns perfectly with Kaplan's strategic pivot toward B2B institutional partnerships through its All Access License program, reducing dependency on the more volatile direct-to-consumer market. Institutional contracts typically offer more predictable revenue streams and lower customer acquisition costs than individual consumer sales, potentially improving margin profiles for this segment of Kaplan's business.

The Illinois partnership adds to Kaplan's growing institutional client roster, which includes Howard University, Syracuse University College of Law, and several other prestigious institutions. This expansion in the B2B education space provides GHC with a diversification benefit, as the company continues to evolve beyond its traditional media roots.

For context, Kaplan remains a important component of GHC's business portfolio, contributing approximately 45% of the company's total revenue in recent reporting periods. This institutional contract strengthens Kaplan's competitive positioning against rivals like Princeton Review and Magoosh in the educational services market.

The partnership's focus on addressing workforce shortages in healthcare and other critical fields also aligns with broader market trends toward career-focused education. By helping Illinois develop more healthcare professionals to address projected shortfalls of 14,000 nurses and 6,000 doctors by 2030, Kaplan is positioning itself in high-demand, recession-resistant educational sectors.

For GHC investors, this contract demonstrates Kaplan's ability to secure large-scale institutional partnerships, potentially providing a template for similar agreements with other state education systems facing professional workforce shortages. The recognition from Fast Company and Inc. further validates Kaplan's innovative approach in the educational services market, potentially enhancing the division's brand value within GHC's diverse business portfolio.

Illinois’ public universities and select community colleges will prepare students for professional licensing exams, graduate-level admissions exams, and credential exams

CHICAGO & FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- The Illinois Student Assistance Commission (ISAC), the state’s college access and financial aid agency, has contracted leading global education company Kaplan to provide free test preparation courses to all students enrolled in Illinois’ public universities. Five Illinois community colleges are also included as part of a pilot program. Students at these institutions will have free access to Kaplan’s best-in-class preparation for professional licensing exams, graduate-level admissions exams, and credential exams, including comprehensive prep for the GRE®, GMAT®, LSAT®, MCAT®, NCLEX-RN®, USMLE®, Illinois State bar exam, real estate and securities exams, and more. They will also have access to a suite of professional and academic skills development courses from Kaplan.

“Providing free test and licensing preparation courses for students is an important measure to help remove some of the financial barriers students face in advancing their education and careers,” said ISAC Executive Director Eric Zarnikow. “ISAC is pleased to partner with Kaplan to provide these services, and I highly encourage all eligible students to enroll in a relevant course this year.”

In addition to providing an incentive for students to stay in Illinois, the Program may ultimately help reduce shortages in the Illinois workforce, including projected deficits of more than 14,000 nurses and more than 6,000 doctors by 2030.

“The State of Illinois’ bold initiative has the potential to create lasting benefits for millions of residents across the state by addressing acute shortages in critical fields such as healthcare and education, producing more doctors, nurses, teachers, and other essential professionals,” said Gregory Marino, CEO, Kaplan North America. “Providing free access to our comprehensive suite of test prep and career development resources will help aspiring professionals thrive and lift up their communities.”

In addition to offering the program to students at all 12 Illinois public 4-year universities, the program is being piloted at five community colleges chosen to reflect the geographic and demographic diversity of the state, including Joliet Junior College, Carl Sandburg College, Southwestern Illinois College, Malcolm X College, and Morton College. Kaplan has already begun working with these community colleges and the state’s public universities to launch the program so students can access these courses.

In May, Fast Company named Kaplan’s All Access License, which will power the Illinois partnership, as a winner in its 2024 World Changing Ideas Awards. Launched in 2022, All Access enables colleges and universities to help their students prepare for a variety of high-stakes admissions and licensing exams that they need to score well on to reach their professional goals — with zero out-of-pocket costs for students. And in December, Inc. named Kaplan to its 2024 Best in Business list, which recognizes companies that have achieved significant industry milestones, citing All Access. Additionally, in October, Inc. named Kaplan a winner in its third annual Power Partner Awards, which honors business-to-business (B2B) organizations with proven track records of helping businesses grow. The License has already saved thousands of students millions of dollars at schools like Cleveland State University, Xavier University of Louisiana, Howard University, Delaware State University, Hampton University, and Spelman College. And Kaplan’s most recent partners include Syracuse University College of Law and Albion College.

Test names and other trademarks are the property of the respective trademark holders.

About ISAC
The mission of the Illinois Student Assistance Commission (ISAC) is to provide Illinois students with information and assistance to help make education beyond high school accessible and affordable. ISAC provides comprehensive, objective, and timely information about education and financial aid for students and their families—giving them access to the tools they need to make the educational choices that are right for them. Then, through the state scholarship and grant programs ISAC administers, ISAC can help students make those choices a reality. Find us at isac.org and on Facebook, X, Instagram, and YouTube.

About Kaplan
Kaplan, Inc. is a global educational services company that helps individuals and institutions advance their goals in an ever-changing world. Our broad portfolio of solutions help students and professionals further their education and careers, universities and educational institutions attract and support students, and businesses maximize employee recruitment, retainment, and development. Stanley Kaplan founded our company in 1938 with a mission to expand educational opportunities for students of all backgrounds. Today, our thousands of employees working in 27 countries/regions continue Stanley’s mission as they serve about 1.2 million students and professionals, 15,000 corporate clients, and 3,300 schools, school districts, colleges, and universities worldwide. Kaplan is a subsidiary of the Graham Holdings Company (NYSE: GHC). Learn more at kaplan.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250225037997/en/

ISAC: Lynne Baker, 847.831.8024

Lynne.Baker@Illinois.gov

Kaplan: Russell Schaffer

Russell.Schaffer@Kaplan.com

Source: Kaplan, Inc.

FAQ

What exams are covered under the free Kaplan test prep program for Illinois students?

The program covers GRE®, GMAT®, LSAT®, MCAT®, NCLEX-RN®, USMLE®, Illinois State bar exam, real estate and securities exams, plus professional skills development courses.

Which Illinois community colleges are participating in the Kaplan test prep pilot program?

Five colleges: Joliet Junior College, Carl Sandburg College, Southwestern Illinois College, Malcolm X College, and Morton College.

How many healthcare professionals is Illinois projected to be short by 2030?

Illinois projects shortages of more than 14,000 nurses and 6,000 doctors by 2030.

What recent awards has Kaplan's All Access License received?

It won Fast Company's 2024 World Changing Ideas Awards and was recognized in Inc.'s 2024 Best in Business list.