Item 8.01 Other Events.
On September 20, 2022, Aspen University and the Arizona State Board of Nursing
entered into a Consent Agreement under which Aspen agreed to voluntarily
surrender its program approval for its pre-licensure registered nursing program
in Phoenix, Arizona. Aspen sought the agreement after concluding that it was
unable to meet the minimum 80% NCLEX first-time pass rates for calendar year
2022, which is a requirement of an earlier consent agreement that Aspen and the
Board signed in March 2022. Aspen did so to minimize uncertainty for its
students. Aspen had suspended admissions to its Arizona program in January 2022.
Under the terms of the Consent Agreement, Aspen will continue its current
Arizona nursing program for all current students and provide regular reports to
the Board of Nursing about the program. It remains accountable to the Board to
ensure that its current students receive expected instruction and learning
opportunities. Once all currently enrolled students in the program have either
completed the program or ceased enrollment, or within two years, whichever is
sooner, Aspen's program approval will be automatically voluntarily surrendered
for a minimum period of two years.
Having entered into this agreement with the Arizona State Board of Nursing,
Aspen will suspend new enrollments and complete instruction of its program for
currently enrolled Core nursing students in Florida, Georgia, Tennessee and
Texas.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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