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Industry
Since it was founded in 1994, Career Education Corporation has become a leader in its industry, achieving a five-year compound annual growth rate of 44 percent. CEC is the world's largest on-campus provider of private, for-profit postsecondary education and has a rapidly growing presence in online education. Our educational programs are career-oriented and provide students with the knowledge and skills they need to compete successfully in today's job market. CEC prepares students for professionally and personally rewarding careers through its more than 80-plus campuses and its 100% online universities.
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CEC's prospects for continued rapid growth are supported by strong industry dynamics:
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Postsecondary education is a $315.5 billion industry market in North America, according to the U.S. Departement of Education for the 2001-2002 academic year. |
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Enrollment in postsecondary education programs is projected to grow to 18.2 million students by 2012, up from 15.6 million in 2002, due to:
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Increasing numbers of high school graduates, as the children of the "baby boom" generation prepare to begin their careers; and |
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Increasing numbers of adults seeking higher education, to enhance their skills or re-train for a new career. |
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Federal funding available to support postsecondary education was estimated to exceed $105 billion during the 2002-2003 academic year. Additionally, the federal government lent to students more than $48 billion in student loans during the 2002-2003 academic year and is expected to guarantee loans at comparable levels in the future |
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U.S Department of Labor projects that jobs requiring at least an associate degree to increase by approximately 32 percent between 2000 and 2010 |
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The U.S. Department of Education estimates that the number of degree seeking students taking online courses will grow at a compound rate of 33% for the next several years, reaching 2.2 million by 2004. |
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