<P> In 2013, USA Today listed University of Phoenix as a "red flag" institution for posting a student loan default rate (26%) that surpassed its graduation rate (17%). A 2010 report found that the University of Phoenix's online graduation rate was only 5 percent . </P> <P> According to the U.S. Department of Education's College Scorecard, the University of Phoenix's average annual cost was $14,166 (about average). The average graduate earned $53,000 a year (above average). The institution's graduation rate was 20% (significantly below average). </P> <P> The University of Phoenix has been regionally accredited since 1978 by The Higher Learning Commission (HLC) and was a member of the North Central Association of Colleges and Schools (NCA). In February 2013, a peer review group recommended to the HLC that the university be put on probation because the University of Phoenix "has insufficient autonomy relative to its parent corporation ." On May 9, 2013, the Apollo Group filed a report with the Securities and Exchange Commission which stated that the HLC Institutional Actions Council First Committee ("IACFC") had recommended to the HLC that the university retain its regional accreditation, but that the university be placed on "notice" for two years . Their concerns center on the university's governance, student assessment, and faculty scholarship in relation to PhD programs . In July 2015, the Higher Learning Commission removed University of Phoenix from Notice Status . </P> <P> Some individual colleges within the University of Phoenix hold specialty accreditation or are pre-accredited by accrediting agencies that are recognized by the Council for Higher Education Accreditation . </P>

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