 Management to Announce Fiscal Year 2021 First Quarter Results on September 14, 2020 AU and USU Active Student Body AU and USU Active Student BodyNEW YORK, Aug. 10, 2020 GLOBE NEWSWIRE -- Aspen Group, Inc. AGI Nasdaq: ASPU, an education technology holding company, today announced a quarterly record of 2,351 new student enrollments in the fiscal 2021 first quarter ending July 31, 2020, a sequential increase of 32, and 22 year-over-year. Quarterly bookings increased sequentially by 39, and by 34 year-over-year from 26.9 million to 36.1 million.Aspen University generated 1,779 new student enrollments in the first quarter of fiscal year 2021, up 26 over the prior year. The strong enrollment growth at Aspen University was a result of record quarterly enrollments in its Doctoral and BSN Pre-Licensure units.United States University USU also delivered record enrollments in the first quarter with 572 new student enrollments driven primarily by MSN-Family Nurse Practitioner FNP enrollments, a 32 sequential increase.Table 1 reflects new student enrollments for the past five quarters:Table 1 New Student Enrollments Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021 Aspen University1,415 1,8231,3711,3441,779 USU514394375432572 Total1,9292,2171,7461,7762,351 Management is very pleased to report record quarterly enrollments of 2,351 new students despite the ongoing COVID-19 pandemic and during the companys historically seasonally weaker summer months, said Chairman CEO, Michael Mathews. Our two highest LTV programs, USUs MSN-FNP and Aspens BSN Pre-Licensure program, enjoyed enrollment tailwinds this quarter related to COVID. RNs, looking to attain their nurse practitioner license to broaden their career options, drove MSN-FNP enrollment. Additionally, millennials, aspiring to become RNs, enrolled in the BSN Pre-Licensure program in record numbers, given that many have been furloughed or laid off since the pandemic first started, stated Mathews.In the first quarter of fiscal year 2021 the Marketing Efficiency Ratio MER for our universities, representing revenue-per-enrollment LTV over cost-per-enrollment CAC, improved 16 for Aspen University and declined 15 for USU year-over-year, as shown in Table 2:Table 2 First Quarter Marketing Efficiency Ratio EnrollmentsCAC1LTV2 Q1 21 MER Q1 20 MERMER Change Aspen University1,7791,18114,548312.3X10.6X16 USU5721,27217,820414.0X16.5X-15 1Based on 6-month rolling weighted average CAC for each universitys enrollments 2Lifetime Value LTV of a new student enrollment 3Weighted average LTV for all Aspen University enrollments in the quarter 4LTV for USUs MSN-FNP ProgramCompared to the previous year, AGIs weighted average cost of enrollment increased 4, from 1,153 to 1,203. Table 3 below shows the breakdown by university and the weighted average.Table 3 First Quarter Weighted Average Cost of Enrollment Q1 20 EnrollmentsQ1 20 CAC1Q1 21 EnrollmentsQ1 21 CAC1CAC Change Aspen University1,415 1,1771,7791,1810 USU5141,0785721,27218 Weighted Average 1,153 1,2034 1Based on 6-month rolling averageTable 4 below shows, on a year-over-year basis, fiscal first quarter 2021 bookings increased 34 to 36.1 million, delivering a company-wide average revenue per enrollment APRU increase of 10 to 15,344.Table 4 First Quarter Bookings and Average Revenue Per Enrollment ARPU Q12020 EnrollmentsQ12020 BookingsQ12021 EnrollmentsQ12021 BookingsPercent Change Total Bookings ARPU Aspen University1,41517,691,1501,77925,880,400 USU5149,159,48057210,193,040 Total1,92926,850,6302,35136,073,44034 ARPU 13,919 15,34410 AGIs overall active student body includes both Aspen University and USU grew 24 year-over-year from 9,752 to 12,128. Aspen Universitys total active degree-seeking student body grew 21 year-over-year from 8,261 to 9,975.On a year-over-year basis, USUs total active student body grew from 1,491 to 2,153 or 44. The chart below shows the student body growth over the past five quarters.Fiscal 2020 First Quarter Earnings Conference Call Details:Aspen Group, Inc. will host a conference call to discuss its first quarter fiscal year 2021 financial results and business outlook on Monday, September 14th, 2020, at 4:30 p.m. ET. Aspen will issue a press release reporting results after the market closes on that day. The conference call can be accessed by dialing toll-free 844 452-6823 U.S. or 731 256-5216 international, passcode 8489959. Subsequent to the call, a transcript of the audiocast will be available from the Companys website at ir.aspen.edu. There will also be a seven day dial-in replay which can be accessed by dialing toll-free 855 859-2056 or 404 537-3406 international, passcode 8489959.About Aspen Group, Inc.:Aspen Group, Inc. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, Aspen University and United States University, to deliver on the vision of making college affordable again. For more information, visit Statements:This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including enrollment growth, the continuing impact of COVID-19 and the future impact of bookings and LTV. The words believe, may, estimate, continue, anticipate, intend, should, plan, could, target, potential, is likely, will, expect and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the continued demand of nursing students for the new programs, student attrition, national and local economic factors including the substantial impact of the COVID-19 pandemic on the economy, and the competitive impact from the trend of public non-profit universities using online education. Other risks are included in our filings with the SEC including our Form 10-K for the year ended April 30, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.Investor Relations Contact:Kimberly Rogers Hayden IR 385 831-7337 graph accompanying this announcement is available at 