Company Description
American Public Education, Inc. (NASDAQ: APEI) is an education services company in the Educational Services sector that focuses on colleges, universities, and professional schools. According to company disclosures, APEI provides online and campus-based postsecondary education through three primary institutions: American Public University System (APUS), Rasmussen University, and Hondros College of Nursing. Across these institutions, APEI reports serving approximately 108,000 students in aggregate, with programs that aim to transform lives, advance careers, and improve communities.
The company’s business is centered on postsecondary degree and certificate programs, delivered through both online and on-campus formats. Based on its public description, APEI’s revenue is generated from net course registrations and enrollment, tuition rates, net tuition, and other fees. Its operations are organized into three reporting segments aligned with its institutions: the American Public University System segment, the Rasmussen University segment, and the Hondros College of Nursing segment. The American Public University segment is identified as the key revenue generator in prior descriptions.
Institutional segments and academic focus
American Public University System (APUS), a wholly owned subsidiary of APEI, delivers affordable, high-quality, workforce-relevant higher education and serves adult learners worldwide. APUS operates through American Military University (AMU) and American Public University (APU) and is described as the leading educator to active-duty military and veteran students, based on Department of Defense tuition assistance data and Veterans Administration enrollment data cited by the company. APUS offers online programs across areas such as business administration, health science, technology, criminal justice, education, liberal arts, national security, military studies, intelligence, and homeland security, as referenced in earlier company descriptions.
APUS emphasizes online learning and student engagement. Company news highlights a long history in online education, recognition for quality online education from the Online Learning Consortium, and a global alumni community from more than 80 countries. APUS also reports extensive student involvement in co-curricular activities, with dozens of student-run organizations and honor societies that support leadership, networking, and academic enrichment.
Rasmussen University, another wholly owned subsidiary, is described as a nursing and health sciences–focused institution with additional schools in Business, Technology, Design, Early Childhood Education, and Justice Studies. It offers undergraduate and graduate programs online and at multiple campuses across several U.S. states. Rasmussen’s programs are characterized as career-focused, with particular emphasis on healthcare and other workforce-oriented disciplines. Company communications note that Rasmussen has been in operation for more than a century and that it offers programs such as radiologic technology and other health sciences, as well as business and technology programs designed for working adults.
Hondros College of Nursing focuses on educating pre-licensure nursing students. According to APEI’s public statements, Hondros operates multiple campuses in several Midwestern states and is identified as a large educator of practical nursing (PN/LPN) students in Ohio, based on data from nursing boards cited by the company. Hondros’ programs are campus-based and oriented toward preparing students for nursing licensure and entry into healthcare careers.
Educational model and delivery
APEI’s institutions collectively offer online and campus-based postsecondary education. APUS is fully online and targets adult learners, including active-duty military and veterans, with accessible and affordable higher education. Rasmussen University combines online coursework with on-campus learning experiences and clinical practicum settings, especially in healthcare programs. Hondros College of Nursing emphasizes on-campus instruction and clinical preparation for nursing students.
Across these institutions, APEI’s programs span undergraduate and graduate degree programs and professional education in fields such as business administration, health science, technology, criminal justice, education, liberal arts, national security, military studies, intelligence, homeland security, nursing, and other healthcare disciplines. The company’s revenue model, as described in prior disclosures, is tied to net course registrations and enrollment activity, tuition rates, net tuition, and related fees.
Accreditation and regulatory context
APEI highlights institutional accreditation as a core element of its educational offerings. APUS and Rasmussen University are institutionally accredited by the Higher Learning Commission (HLC), an institutional accreditation agency recognized by the U.S. Department of Education. Hondros College of Nursing is accredited by the Accrediting Bureau of Health Education Schools (ABHES). These accreditations support the institutions’ eligibility to participate in federal financial aid and other education-related programs, and they frame the regulatory environment in which APEI operates.
Student populations and markets served
According to APEI’s public communications, APUS serves a large population of adult learners worldwide and is positioned as a leading educator for active-duty military and veteran students. This reflects a focus on learners who often balance education with work and service commitments. Rasmussen University serves students pursuing nursing, health sciences, and other career-focused disciplines through a mix of online and campus-based programs. Hondros College of Nursing serves pre-licensure nursing students preparing for entry-level nursing roles.
The company’s institutions collectively serve tens of thousands of students across online platforms and physical campuses. APEI has referenced approximate enrollment figures for each institution in its public releases, indicating a diversified student base across military-affiliated learners, adult learners, and healthcare-focused students.
Program areas and academic offerings
Based on APEI’s prior description and recent news, the company’s academic portfolio includes:
- Online undergraduate and graduate degree programs in business administration, health science, technology, criminal justice, education, and liberal arts.
- Specialized programs in national security, military studies, intelligence, and homeland security, particularly through APUS.
- Nursing and health sciences programs at Rasmussen University and Hondros College of Nursing, including pre-licensure nursing education and other healthcare-related disciplines.
- Additional fields at Rasmussen University such as Business, Technology, Design, Early Childhood Education, and Justice Studies.
APUS also highlights programs in areas like sports management and esports, along with other workforce-relevant disciplines that reflect emerging trends in fields such as sports science, digital experiences, and artificial intelligence.
Engagement, co-curricular activities, and workforce relevance
Company news emphasizes that APUS supports a wide range of student-run organizations and honor societies, with many active clubs and a substantial number of students participating in co-curricular activities. These organizations span academic, professional, and interest-based themes and are presented as a way to build community, leadership skills, and academic engagement in an online learning environment. APUS has reported that participation in student organizations is associated with measurable academic and retention benefits for its learners.
Rasmussen University’s communications describe programs that are designed to be career-focused and aligned with employer needs, particularly in healthcare and other applied fields. The institution also notes alliances with employers that provide tuition benefits and grants to working professionals, reflecting a focus on workforce development and career advancement.
Corporate structure and capital markets
American Public Education, Inc. is incorporated in Delaware and files regular reports with the U.S. Securities and Exchange Commission (SEC). It trades on the NASDAQ under the ticker symbol APEI. The company has disclosed that it has redeemed certain preferred stock and that it uses standard SEC reporting forms, including Form 8-K for material events and earnings announcements.
APEI’s SEC filings and press releases describe a business that is sensitive to regulatory and funding dynamics in U.S. higher education, including Department of Defense tuition assistance programs and federal financial aid. The company has also discussed the impact of government shutdowns on course registrations for military-affiliated students and has provided guidance and commentary on its financial performance and outlook.
Summary
In summary, American Public Education, Inc. is an education services company that operates three main institutions—APUS, Rasmussen University, and Hondros College of Nursing—focused on online and campus-based postsecondary education. Its academic offerings span business, health sciences, technology, criminal justice, education, liberal arts, security and intelligence studies, nursing, and other professional fields. The company’s model is based on serving adult learners, military and veteran students, and healthcare-focused students through accredited institutions that generate revenue from course registrations, tuition, and related fees.