Exhibit 99.3 97% APUS ALUMNI SURVEYED Respondents indicated that APUS programs met their overall expectations.2A leading provider of higher education for adult learners, American Public Education Inc. (APEI) offers affordable, accessible, relevant and quality academic programs and services to students, universities and partner organizations through its wholly owned subsidiaries American Public University System (APUS) and National Education Seminars Inc., which we refer to as Hondros College of Nursing (HCN). DECEMBER 2019 TICKER: APEI EXCHANGE: NASDAQ45+ HCN RELATIONSHIPS with healthcare employers96K+ APUS ALUMNI6K+ HCN ALUMNI 95% APUS ALUMNI SURVEY Respondents would recommend AMU/APU to a friend or colleague.1 Net Income Attributable Net Cash Provided Revenue (in thousands) 2019 $286,2702018.$297,6872017.$299,2482016.$313,139 to Common Stockholders (in thousands) 2019.$25,6392018.$21,1212017.$24,1552016.$32,414 by Operating Activities (in thousands) 2019.$38,3702018.$44,1792017.$47,9382016.$56,014 Total Assets (in thousands) 2019.$359,3952018.$370,9582017.$399,0382016.$315,620 NOTE: Past performance is not indicative of future results. Additional information, including important details about risk factors, can be found in APEIs filings with the U.S. Securities and Exchange Commission, www.sec.gov. Chris Symanoskie, IRC, Vice President, Investor Relations 7033343880 or csymanoskie@apei.com1. APUS, 2018 1year Alumni Survey2. APUS, 2017 End of Program Survey

American Public University System1 An online institution of higher learning serving the needs of military, public service and civilian communities through American Military University (AMU) and American Public University (APU). Enrollment and Registrations1 For the three months ended December 31, 2019 2018 % Change Net Course Registrations by New Students 9,900 9,800 +1% Net Course Registrations 79,800 79,400 +1% For the twelve months ended December 31, 2019 2018 % Change Net Course Registrations by New Students 40,200 40,100 0% Net Course Registrations 316,700 320,300 -1% As of December 31, APUS Student Enrollment2 81,000 81,400 -1% At-A-Glance5 87% of Students Are Working Adults Avg. Age of Students: 32 years Avg. Undergraduate Class Size: 19 students Avg. Graduate Class Size: 8 students Gender Ratio: 64% male / 36% female 49%+ of APUS Students Referred by Others Over 200 Degree and Certificate Programs 1,800 Globally-Located Faculty Members 108,700 conferred degrees and certificates Registrations by Primary Funding Source For the twelve months ended December 31, 2019 Return on Investment for Learners APUS programs rank #93 nationally, or in the top 2%, for return on student investment.6 72% of AMU and APU alumni have graduated with no APUS-incurred student loan debt.3 Student Satisfaction 30% of APUS alumni returned for a 2nd degree7 49% of APUS students were referred by others8 Enrollment by Degree Level5 Enrollment by School5 1. APUS Net Course Registrations represent the approximate aggregate number of courses for which students remain enrolled after the date by which they may drop a course without financial penalty. 2. APUS Student Enrollment represents the number of unique active students, including those who take an approved leave of absence for up to two years, who have reached the eighth day of their first course or who have completed at least one course within the last 12 months for which a grade was received. 3. Includes alumni who graduated with an Associate’s, Bachelor’s or Master’s degree from APUS as of December 31, 2019. Student loan debt is defined as student loans and private education loans and considers tuition, fees, living expenses, and book costs associated with courses taken at APUS. 4. HCN Student Enrollment represents the total number of students enrolled in a course after the date by which students may drop a course without financial penalty. 5. As of December 31, 2019. 6. Georgetown University Center on Education and Workforce, A First Try at ROI: Ranking 4,500 Colleges, 2019 7. Undergraduate students who completed an associate or bachelor’s degree in 2018 and returned for a second degree at any level 8. Students starting in 2019 - Quarter 4

Hondros College of Nursing4 Serving the needs of nurses and the healthcare community through campus locations in Cincinnati, Cleveland, Columbus, Dayton, Toledo, and Indianapolis. For the three months ended December 31, 2019 2018 % Change New Student Enrollment 530 660 -20% Total Student Enrollment 1,600 2,110 -24% Approximate Cost (Tuition & Fees) of Degree Completion Practical Nursing $19,700 Associate Degree in Nursing $28,500 Alumni tuition is $24,5226 Student Enrollment4 Enrollment by Program For the full year ended December 31, 2019. At-A-Glance ¢ Avg. Age of Students: 30 years ¢ Gender Ratio: 92% female / 8% male ¢ Avg. Class Size: 15 students Graduates ¢ 6,000+ alumni 1. APUS Net Course Registrations represent the approximate aggregate number of courses for which students remain enrolled after the date by which they may drop a course without financial penalty. 2. APUS Student Enrollment represents the number of unique active students, including those who take an approved leave of absence for up to two years, who have reached the eighth day of their first course or who have completed at least one course within the last 12 months for which a grade was received. 3. Includes alumni who graduated with an Associate’s, Bachelor’s or Master’s degree from APUS as of December 31, 2019. Student loan debt is defined as student loans and private education loans and considers tuition, fees, living expenses, and book costs associated with courses taken at APUS. 4. HCN Student Enrollment represents the total number of students enrolled in a course after the date by which students may drop a course without financial penalty. 5. For the twelve months ended December 31, 2019. 6. Tuition for alumni of HCN’s Practical Nursing program is $23,790.