DeVry University, the flagship subsidiary of
), recently received reaccreditation from Engineering Technology
Accreditation Commission (ETAC) of ABET for three undergraduate
engineering technology programs.
ABET stands for Accreditation Board for Engineering and
Technology, Inc. (ABET). Established in 1932, ABET is a private
institution which approves graduate and post-graduate
degree-granting programs mainly in the field of applied science,
computing, engineering and engineering technology. ABET has
founded four commissions out of which ETAC focuses on accrediting
engineering technology related courses, being one of them.
Three programs receiving the reaccreditation were Biomedical
Engineering Technology, Computer Engineering Technology and
Electronics Engineering Technology onsite programs.
Earlier in March, DeVry University was granted reaccreditation
from Higher Learning Commission's (HLC) Institutional Actions
Council (IAC). Other than this, in May, the university also
announced that Accreditation Council for Business Schools and
Programs (ACBSP), a U.S.-based accreditor of business programs
renewed the certification of its business and accounting degree
The reaccreditations ensure that employers, other engineering
and technical higher education institutions and governmental
entities will give due recognition to the degrees and credits
earned by the university students.
DeVry University which accounts for half of DeVry's revenues,
is one of the largest private, degree-granting, regionally
accredited, higher education institution in North America. It is
famous for its diverse portfolio of programs which not only helps
it to drive growth but also attract and develop talent across
DeVry by offering a broader range of career opportunities.
In the past few quarters, DeVry University has been witnessing
a persistent decline in enrollments due to the weak macroeconomic
environment and subsequent decline in student demand (due to the
hesitancy over taking a loan). In fourth-quarter fiscal 2013, the
segment's revenues declined 17.7% year over year due to a dip in
both undergraduate and graduate enrollments. The segment is
expected to continue to struggle in fiscal 2014.
In order to boost enrollment growth at DeVry University, the
company is working on its marketing efforts to build brand
awareness; improving its technology; and improving affordability
through scholarships and pricing. However, we believe the Zacks
Rank #3 (Hold) company has a long way to go to completely rebound
the segment's business.
Other education companies worth a look are
Bright Horizons Family Solutions, Inc.
Grand Canyon Education, Inc.
), all carrying a Zacks Rank #2 (Buy).
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DEVRY INC (DV): Free Stock Analysis Report
GRAND CANYON ED (LOPE): Free Stock Analysis
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