Aspen University has its origins in the International Academy, created in the 1960s to improve the way education was disseminated. The International Academy evolved into ISIM University, with a primary focus on technology and business education. In the late 1980s, operations moved to Colorado and in 1993, the University was successful in acquiring national accreditation with the Distance Education and Training Council, now the Distance Education Accrediting Commission (DEAC). In 2003, the University underwent a change in ownership, a name change to Aspen University, and a successful re-accreditation review.

In 2011, the University underwent a second change of ownership. Concerned about the financial challenges faced by students and profiled in his book, Let’s Change Higher Education Forever: A Debt-Free Solution for A System Gone Wrong, Michael Mathews, Chairman of the Board of Aspen Group, Inc. (AGI), was appointed Chief Executive Officer of Aspen University. In 2012, it became a publicly traded postsecondary institution (ASPU) and in 2017, AGI was uplisted on the NASDAQ. Aspen University is dedicated to helping students achieve upward mobility and long-term economic success through superior education, financial prudence, and career advancement. Although traditional financial aid is available for those who qualify, Mike Mathews instituted a pioneering Monthly Payment Plan (MPP) for students, offered entirely interest free, making it essentially a no-interest, private student loan, designed to allow the student to achieve their degree and minimize debt upon graduation.