Skip to content
Subscriber Only

Apollo Plunges on U.S. Investigation of Financial Aid

Apollo Group Inc., the biggest education company by enrollment, plunged to a four-year low in stock trading after saying the U.S. Department of Education will review financial-aid practices at its University of Phoenix.

Apollo fell $3.09, or 8 percent, to $35.38 at 4 p.m. in Nasdaq Stock Market composite trading, the lowest price since November 2006. The company was the worst performer on the Standard & Poor’s 500 Index. The shares have lost 38 percent in 12 months.