(1) All South University campuses are under heightened cash monitoring (HCM). SOUTH HAS BEEN OPERATING UNDER THE HCM PROGRAM FOR MANY YEARS.
(2) In December 2021, South University's net position was about $-9M. AS OF NOW, SOUTH’S NET ASSETS ARE POSITIVE DUE TO OPERATING SURPLUS.
(3) In 2021, South University cut labor costs by about $7M. CORRECT. SOUTH UNIVERSITY IS FISCALLY RESPONSIBLE AND REGULARY ADJUSTS THE SIZE OF ITS ADMINISTRATIVE COSTS BASED ON THE SIZE AND NEEDS OF ITS STUDENT BODY.
(4) The 8 year graduation rate for South University online is 8 percent. NOT CORRECT. A BLENDED GRADUATION (6-YEAR) RATE FOR SOUTH UNIVERSITY IS CLOSER TO 27% FOR ONLINE.
(5) According to the US Department of Education, 40 percent of people who attend South University earn more than a high school graduate. REFER BACK TO DOE TO CLARIFY ITS COMMENT.
(6) Chancellor SY has said on the record he is confident that South University will be able to pay off the $50M Main Street Loan, which includes payments in December 2023, 2024, and 2025. CORRECT.
(7) In 2021, South University was accused of using a predatory lead generator and robocalls to recruit and enroll students, using Yodel Technologies, JobsFlag, Double Positive Marketing, and Telesolutions/Graspy Media. The allegations stemmed from business activities in 2020. CASE WAS DIMISSED AND SOUTH UNIVERSITY DOES NOT USE ANY VENDORS FROM THIS LIST.
(8) Although Studio Enterprise is hired to provide Marketing and Compliance services to South University, BN denies that Studio Enterprise was involved in this business practice. INCORRECT QUOTE, CLEARLY TAKEN OUT OF CONTEXT
(9) BN added that Studio Enterprise has never made a profit for its services to South University, despite payments of about $20M-$22M per year. CORRECT THAT STUDIO HAS NEVER MADE A PROFIT FROM SOUTH.
(10) Education Principle Foundation has been attempting to sell South University. INCORRECT.