Indian Students Studying in the US Increased
by 35% in the Most Recent Academic Year
MIDDLETOWN,
Ohio, Feb. 27, 2024 /PRNewswire/ -- EpicQuest
Education Group International Limited (NASDAQ: EEIQ),
("EpicQuest Education", "EEIQ" or the "Company"), a provider of
higher education for domestic and international students in the US,
Canada and the UK, today announced
that on February 23, 2024, Davis
University received approval from the Higher Learning Commission
("HLC") to offer two STEM degree programs, an Associate of Applied
Science in Data Science and an Associate of Applied Science in
Computer Engineering. These two programs are expected to lead to a
substantial increase in revenue from tuition and service fees for
this fiscal year. The Company expects the number of students
recruited from China will be at
least doubled, and students from India will constitute a significant revenue
stream for the Company.
EpicQuest Education plans to target recruiting
from India as the US remains the
top choice for Indian students pursuing higher education abroad.
According to the US Embassy and Consulates in India, the number of Indian students who
travelled to the US for higher education increased by 35% and
resulted in an all-time high of approximately 270,000 students for
the 2022-2023 academic year. In addition, the Optional Training
Program (OPT) grants students up to three years of temporary
employment authorization in the US which allows highly skilled
international students to gain work experience and contribute to
the US economy.
"We are pleased with the HLC approvals of our
technology programs as it reinforces our academic programming that
prepares our students for their professional careers. It further
highlights our mission to provide innovative practical training
that aligns with the demands of the current economy that results in
good jobs and career advancement," commented Diane Brunner, President of Davis University.
"In addition, we anticipate strong demand coming from India in terms of the three-year Optional
Practical Training program for international students who have F-1
immigration status."
EpicQuest Education's Recruiting Office in Sri Lanka
EpicQuest Education recently opened a recruiting office in
Sri Lanka to serve as its main hub
to attract students from Southeast
Asia and the Middle East to
expand its geographical market for international student
recruiting. The Company believes that India, in particular, represents a huge
recruiting market which will be attractive for Davis University's
degree programs in technology, including its two new STEM degree
programs. The Company believes that its practical training program
in STEM coursework will allow students from India who can access OPT to gain valuable work
experience in the US which can build a strong foundation for a wide
array of careers.
HLC's Previous Approval of Davis University's Online
Programs
Previously, the Higher Learning Commission (HLC) approved Davis
University in September 2023 for all
of its education courses and programs that are offered online. HLC
indicated that since Davis has met the threshold requirement for
online education, that it does not need to seek further online
education approvals from the HLC. The HLC is an independent
corporation that is one of seven regional accreditors in the US
that accredits degree-granting post-secondary educational
institutions.
EpicQuest Education's Mission of
Internationalization
The Company believes that internationalization is
a key element of its strategic growth plan. EpicQuest
Education's growth plan is to have its operated colleges, Davis
University and EduGlobal College, become increasingly focused on
international recruiting and enhanced globalized learning to its
students as well as pathways to achieve university degrees. The
Company's strategic growth plan is to achieve international
expansion and establish EEIQ as a truly international service
provider of higher learning.
About Davis University
Davis University ("Davis") is a private
career-training university located in Toledo, Ohio. Davis offers a specialized
professional career training curriculum in numerous fields, and its
mission is to provide marketable skills that enhance the
employability of its graduates. Davis offers coursework flexibility
to ensure program success as well as externship opportunities
that provide its student population with real-world skill sets
prior to graduation. In addition to its offering numerous two-year
Associates degree programs and a four-year Bachelor of Science in
Business degree, Davis has agreements with several four-year US
universities for 'transfer pathways' that pave the way for its
associate degree students to gain admission with the ability to
transfer earned course credits. Davis University is accredited by
The Higher Learning Commission and the Ohio State Board of Career
University and Schools with programs authorized by the Ohio Board of Higher Education. For more
information, please visit https://davisuniversity.edu/.
About EpicQuest Education Group
International Limited
EpicQuest Education Group International Limited
("EpicQuest Education" or the "Company") provides comprehensive
education solutions for domestic and international students seeking
university and University degrees in the US, Canada and the UK. The Company owns and
operates EduGlobal University, based in British Columbia, Canada, which focuses on
English proficiency educational programming for students pursuing
academic degrees. The Company operates and is a 70% owner of Davis
University, a career training University located in Toledo, Ohio. In addition, the Company has a
recruiting relationship with the Miami
University Regional campuses, where it maintains residential
facilities, a full-service cafeteria, recreational facilities,
shuttle buses and an office for the regional campuses that provides
study abroad and post-study services for its students; these
facilities are not owned, maintained, operated or are a part of
Miami University. The Company is also a
recruiting agent for the University of the West of Scotland (through The Education Group
(London) Ltd) and Coventry University, both of which are located
in the UK. EpicQuest Education recently established a wholly owned
subsidiary, Gilmore Inv LLC, in Ohio, that will offer international
educational programs related to kinesiology and recreation
education. The Company also established a company in Ohio, SouthGilmore LLC that has been formed to
organize sports-related entertainment projects, which is 40% owned
by Gilmore. For more information, please
visit www.epicquesteducation.com/.
Safe Harbor Statement
Certain of the statements made in this press
release are "forward-looking statements" within the meaning and
protections of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include statements with respect
to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements in this
press release include, without limitation, the increase in the
expected number of students from China and the increased amount of the revenue
that may be received from the recruitment of students from
China and India. All
statements other than statements of historical fact are statements
that could be forward-looking statements. You can identify these
forward-looking statements through our use of words such as "may,"
"will," "anticipate," "assume," "should," "indicate," "would,"
"believe," "contemplate," "expect," "estimate," "continue," "plan,"
"point to," "project," "could," "intend," "target" and other
similar words and expressions of the future.
All written or oral forward-looking statements
attributable to us are expressly qualified in their entirety by
this cautionary notice, including, without limitation, those risks
and uncertainties described in our most recent Form 20-F and
otherwise in our SEC reports and filings. Such reports are
available upon request from the Company, or from the Securities and
Exchange Commission, including through the SEC's Internet website
at http://www.sec.gov. We have no obligation and do not undertake
to update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
Contacts:
EpicQuest Education Group International
Limited
+1 513-649-8350
info@epicquesteducation.com
Investor Relations:
Precept Investor
Relations LLC
David
Rudnick
+1 646-694-8538
david.rudnick@preceptir.com
Source: EpicQuest Education Group International
Limited
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