FORM 10-Q


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


             QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                For the quarterly period ended September 30, 2002


                         Commission File Number 1-13722

                          WHITMAN EDUCATION GROUP, INC.
             (Exact Name of Registrant as Specified in its Charter)

           Florida                                      22-2246554
-------------------------------             ------------------------------------
(State or Other Jurisdiction of             (I.R.S. Employer Identification No.)
 Incorporation or Organization)

                  4400 Biscayne Boulevard, Miami, Florida 33137
               ----------------------------------------------------
                    (Address of Principal Executive Offices)

                                 (305) 575-6510
               ----------------------------------------------------
               (Registrant's Telephone Number, Including Area Code)


     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days.

                                 Yes X     No ______

     Indicate the number of shares  outstanding  of each of issuer's  classes of
common stock, as of the latest practicable date.


     As of October  31,  2002,  there  were  14,125,042  shares of common  stock
outstanding.



                                       1
<PAGE>

                          WHITMAN EDUCATION GROUP, INC.
                                    Form 10-Q
                               September 30, 2002


                                TABLE OF CONTENTS

                                                                        Page No.

PART I - Financial Information

Item 1.    Financial Statements......................................         3

Item 2.    Management's Discussion and Analysis of Financial
           Condition and Results of Operations.......................        11

Item 4.    Controls and Procedures...................................        18

PART II - Other Information

Item 4.    Submission of Matters to a Vote of Security Holders.......        18

Item 6.    Exhibits and Reports on Form 8-K..........................        18




                                       2
<PAGE>


                         PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

                 Whitman Education Group, Inc. and Subsidiaries
                      Condensed Consolidated Balance Sheets

                                                    September 30,    March 31,
                                                        2002           2002
                                                   --------------  -------------
                                                     (Unaudited)
Assets
Current assets:
    Cash and cash equivalents.................     $ 14,261,132    $ 14,010,878
    Accounts receivable, net..................       28,886,516      23,425,589
    Inventories...............................        1,860,252       1,633,917
    Deferred tax assets, net..................        3,333,027       3,376,197
    Other current assets......................        2,261,651       2,273,607
                                                   --------------  -------------
     Total current assets.....................       50,602,578      44,720,188
Property and equipment, net...................       10,640,090      10,804,417
Deposits and other assets, net................        1,970,891       2,296,002
Goodwill, net.................................        9,288,622       9,288,622
                                                   --------------  -------------
     Total assets.............................     $ 72,502,181    $ 67,109,229
                                                   ==============  =============

Liabilities and Stockholders' Equity
Current liabilities:
    Accounts payable..........................     $  2,301,568    $  1,716,674
    Accrued expenses..........................        6,108,918       6,749,811
    Current portion of capitalized
      lease obligations.......................        1,549,825       1,781,501
    Current portion of capital
      expenditure note payable................        1,300,000       1,300,000
    Deferred tuition revenue..................       27,417,349      23,269,177
                                                   --------------  -------------
     Total current liabilities................       38,677,660      34,817,163
Capitalized lease obligations.................        2,199,970       2,815,136
Capital expenditure note payable..............        4,008,334       4,658,333
Deferred tax liability........................        1,225,680       1,091,960
Stockholders' equity:
     Common stock, no par value; authorized
      100,000,000 shares; issued 14,369,414
      shares at September 30, 2002 and
      14,262,648 shares at March 31, 2002;
      outstanding 13,934,620 shares at
      September 30, 2002 and 13,827,854 shares
      at March 31, 2002.......................       23,781,553      23,198,153
     Additional paid-in capital...............          805,309         805,309
     Retained earnings (accumulated deficit)..        1,803,675        (276,825)
                                                   --------------  -------------
     Total stockholders' equity...............       26,390,537      23,726,637
                                                   --------------  -------------
     Total liabilities and stockholders'
      equity..................................     $ 72,502,181    $ 67,109,229
                                                   ==============  =============


                 See accompanying notes to financial statements.


                                       3
<PAGE>


                 Whitman Education Group, Inc. and Subsidiaries
                 Condensed Consolidated Statements of Operations
                                   (Unaudited)


                                                     For the Three Months Ended
                                                           September 30,
                                                   -----------------------------
                                                        2002           2001
                                                   --------------  -------------

Net revenues..................................     $ 25,349,696    $ 21,384,299

Costs and expenses:
    Instructional and educational support.....       16,159,548      14,036,833
    Selling and promotional...................        4,186,704       3,837,463
    General and administrative................        3,804,069       3,298,585
                                                   --------------  -------------

Total costs and expenses......................       24,150,321      21,172,881
                                                   --------------  -------------

Income from operations........................        1,199,375         211,418
Other (income) and expenses:
    Interest expense..........................          184,182         245,273
    Interest income...........................          (91,837)        (83,233)
                                                   --------------  -------------

Income before income tax provision............        1,107,030          49,378
Income tax provision..........................          448,347          19,751
                                                   --------------  -------------

Net income....................................     $    658,683    $     29,627
                                                   ==============  =============

Net income per share:
    Basic.....................................     $       0.05    $       0.00
                                                   ==============  =============
    Diluted...................................     $       0.04    $       0.00
                                                   ==============  =============

Weighted average common shares outstanding:
    Basic.....................................       13,967,803      13,668,586
                                                   ==============  =============
    Diluted...................................       15,096,907      14,050,324
                                                   ==============  =============



                 See accompanying notes to financial statements.



                                       4
<PAGE>


                 Whitman Education Group, Inc. and Subsidiaries
                 Condensed Consolidated Statements of Operations
                                   (Unaudited)


                                                      For the Six Months Ended
                                                           September 30,
                                                   -----------------------------
                                                        2002            2001
                                                   --------------  -------------

Net revenues..................................     $  50,773,812   $ 41,902,415

Costs and expenses:
    Instructional and educational support.....        31,218,411     27,775,521
    Selling and promotional...................         8,073,244      7,200,216
    General and administrative................         7,822,171      6,394,283
                                                   --------------  -------------

Total costs and expenses......................        47,113,826     41,370,020
                                                   --------------  -------------

Income from operations........................         3,659,986        532,395
Other (income) and expenses:
    Interest expense..........................           359,251        513,986
    Interest income...........................          (195,903)      (192,681)
                                                   --------------  -------------

Income before income tax provision............         3,496,638        211,090
Income tax provision..........................         1,416,138         84,436
                                                   --------------  -------------

Net income....................................     $   2,080,500   $    126,654
                                                   ==============  =============

Net income per share:
    Basic.....................................     $        0.15   $       0.01
                                                   ==============  =============
    Diluted...................................     $        0.14   $       0.01
                                                   ==============  =============

Weighted average common shares outstanding:
    Basic.............................                13,944,028     13,658,737
                                                   ==============  =============
    Diluted...........................                15,233,793     13,990,198
                                                   ==============  =============



                 See accompanying notes to financial statements.


                                       5
<PAGE>



                 Whitman Education Group, Inc. and Subsidiaries
                 Condensed Consolidated Statements of Cash Flows
                                   (Unaudited)

                                                     For the Six Months Ended
                                                          September 30,
                                                   -----------------------------
                                                        2002           2001
                                                   --------------  -------------
Cash flows from operating activities:
Net income....................................     $   2,080,500   $    126,654
Adjustments to reconcile net income to net
 cash provided by operating activities:
  Depreciation and amortization...............         1,827,809      1,979,719
  Bad debt expense............................         2,751,942      2,329,326
  Deferred tax provision......................           176,890              -
  Changes in operating assets and liabilities:
   Accounts receivable........................        (8,212,869)    (3,940,133)
   Inventories................................          (226,335)        30,912
   Other current assets.......................            11,956        (20,263)
   Deposits and other assets..................           325,111       (210,515)
   Accounts payable...........................           584,894     (1,019,253)
   Accrued expenses...........................          (335,623)     1,225,333
   Income taxes payable.......................                 -         69,815
   Deferred tuition revenue...................         4,148,172        953,851
                                                   --------------  -------------
Net cash provided by operating activities.....         3,132,447      1,525,446
                                                   --------------  -------------

Cash flows from investing activity:
Purchase of property and equipment............        (1,617,860)      (710,705)
                                                   --------------  -------------
Net cash used in investing activity...........        (1,617,860)      (710,705)
                                                   --------------  -------------

Cash flows from financing activities:
Proceeds from line of credit and long-term
 debt.........................................                 -        163,846
Principal payments on line of credit,
 long-term debt and capital lease obligations.        (1,542,463)    (3,104,530)
Proceeds from purchases in stock purchase plan
 and exercise of options......................           278,130         29,550
                                                   --------------  -------------
Net cash used in financing activities.........        (1,264,333)    (2,911,134)
                                                   --------------  -------------
Increase (decrease) in cash and cash
 equivalents..................................           250,254     (2,096,393)
Cash and cash equivalents at beginning of
 year.........................................        14,010,878      5,892,779
                                                   --------------  -------------
Cash and cash equivalents at end of period.....    $  14,261,132   $  3,796,386
                                                   ==============  =============

Supplemental disclosures of noncash financing
and investing activities:
Equipment acquired under capital leases.......     $      45,622   $    513,108
                                                   ==============  =============
Value of stock issued for 401(k)employee
 match........................................     $     305,270   $          -
                                                   ==============  =============

Supplemental disclosures of cash flow
information:
Interest paid.................................     $     359,251   $    513,986
                                                   ==============  =============
Income taxes paid.............................     $   1,494,179   $      5,000
                                                   ==============  =============


                 See accompanying notes to financial statements.




                                       6
<PAGE>


                 Whitman Education Group, Inc. and Subsidiaries
        Notes to Condensed Consolidated Financial Statements (Unaudited)

1.   General

     The accompanying unaudited condensed consolidated financial statements have
been  prepared  in  accordance  with the  instructions  to Form 10-Q and, in the
opinion of management,  include all adjustments, which are of a normal recurring
nature,  necessary  for a  fair  presentation,  in  all  material  respects,  of
financial  position and the results of operations and cash flows for the periods
presented.  However, the financial statements do not include all information and
footnotes  required for a presentation in accordance with accounting  principles
generally accepted in the United States of America. These condensed consolidated
financial  statements  should  be  read in  conjunction  with  the  consolidated
financial statements and the notes thereto included or incorporated by reference
in our Form 10-K for the  fiscal  year  ended  March 31,  2002.  The  results of
operations for the interim periods are not necessarily indicative of the results
of operations to be expected for the full year.

     The  accompanying  financial  statements  include  the  accounts of Whitman
Education Group, Inc., and its wholly-owned  subsidiaries,  Ultrasound Technical
Services,  Inc. ("Ultrasound  Diagnostic Schools"),  Sanford Brown College, Inc.
("Sanford-Brown College") and CTU Corporation ("Colorado Technical University").
All  intercompany  accounts and transactions  have been  eliminated.  Hereafter,
reference to "Whitman" shall include  collectively Whitman Education Group, Inc.
and its operating  subsidiaries,  Ultrasound  Diagnostic Schools,  Sanford-Brown
College and Colorado Technical University.

     Whitman experiences seasonality in its quarterly results of operations as a
result  of  changes  in the  level of  student  enrollment.  New  enrollment  in
Whitman's  schools  tends to be lower in the first and  second  fiscal  quarters
covering the summer months which are  traditionally  associated with recess from
school. Costs are generally not significantly  affected by seasonal factors on a
quarterly basis.  Accordingly,  quarterly variations in net revenues will result
in fluctuations in income from operations on a quarterly basis.



                                       7
<PAGE>



                 Whitman Education Group, Inc. and Subsidiaries
 Notes to Condensed Consolidated Financial Statements (Unaudited) - (Continued)


2.   Earnings Per Share

     The  following  table  sets  forth the  computation  of basic  and  diluted
earnings per share:

                             For the Three Months        For the Six Months
                              Ended September 30,        Ended September 30,
                           -------------------------- --------------------------
                                2002        2001           2002        2001
                           ------------  ------------ ------------  ------------
Numerator:
Net income...............  $   658,683   $    29,627  $ 2,080,500   $   126,654
                           ============  ============ ============  ============
Denominator:
  Denominator for basic
    earnings per share -
    weighted average
    shares...............   13,967,803    13,668,586   13,944,028    13,658,737
Effect of dilutive
securities:
  Employee stock options.    1,129,104       381,738    1,289,765       331,461
                           ------------  ------------ ------------  ------------
  Dilutive potential
    common shares........    1,129,104       381,738    1,289,765       331,461

  Denominator for diluted
    earnings per share-
    adjusted weighted-
    average shares and
    assumed conversions..   15,096,907    14,050,324   15,233,793    13,990,198
                           ============  ============ ============  ============

Basic net income per
  share..................  $      0.05   $      0.00  $      0.15   $      0.01
                           ============  ============ ============  ============
Diluted net income per
  share..................  $      0.04   $      0.00  $      0.14   $      0.01
                           ============  ============ ============  ============



3.   New Accounting Pronouncement

     In August 2001, the Financial  Accounting  Standards Board issued Statement
of Financial  Accounting  Standards No. 144,  "Accounting  for the Impairment or
Disposal  of  Long-Lived  Assets"  ("SFAS  144").  SFAS  144  requires  that one
accounting  model be used for  long-lived  assets to be  disposed of by sale and
broadens the  presentation of  discontinued  operations to include more disposal
transactions.  SFAS 144 supercedes  FASB Statement No. 121,  "Accounting for the
Impairment  of  Long-Lived  Assets to Be  Disposed  Of" and the  accounting  and
reporting   provisions  of  APB  Opinion  No.  30,  "Reporting  the  Results  of
Operations-Reporting  the Effects of  Disposal  of a Segment of a Business,  and
Extraordinary,  Unusual, and Infrequently Occurring Events and Transactions" for
the  disposal of a segment of a business.  The  adoption of SFAS 144,  which was
effective April 1, 2002, did not have an impact on Whitman's  financial position
or results of operations.

     In June 2002, the Financial  Accounting Standards Board issued Statement of
Financial  Accounting  Standards No. 146,  "Accounting for Costs Associated with
Exit  or  Disposal  Activities"  ("SFAS  146").  SFAS  146  addresses  financial
accounting and reporting for costs associated with exit or disposal  activities.
This  statement is effective  for exit or disposal  activities  initiated  after
December 31, 2002.  Whitman is not currently  engaged in any significant exit or
disposal  activities  and does not expect the  adoption  of SFAS 146 to have any
impact on its financial position or results of operations.



                                       8
<PAGE>


                 Whitman Education Group, Inc. and Subsidiaries
 Notes to Condensed Consolidated Financial Statements (Unaudited) - (Continued)


4.   Net Income Per Common Share

     Basic net income per common share is computed  using the  weighted  average
number of common shares  outstanding  during the period.  Diluted net income per
share is  computed  using the  weighted  average  number of  common  and  common
equivalent shares outstanding during the period.


5.   Comprehensive Income

     Whitman  complies with the provisions of Statement of Financial  Accounting
Standards No. 130,  "Reporting  Comprehensive  Income"  ("SFAS  130").  SFAS 130
establishes rules for the reporting and display of comprehensive  income and its
components.  SFAS 130 requires unrealized gains or losses on  available-for-sale
securities  to be included in "other  comprehensive  income." Net income was the
only  component  of  comprehensive  income  for the three and six  months  ended
September 30, 2002 and September 30, 2001.


6.   Segment and Related Information

     Whitman  complies with the provisions of Statement of Financial  Accounting
Standards No. 131,  "Disclosures  About  Segments of an  Enterprise  and Related
Information"  ("SFAS  131").  SFAS 131  establishes  standards  for the way that
public business  enterprises  report  information  about  operating  segments in
annual financial  statements and requires that those enterprises report selected
information  about  operating  segments in interim  financial  reports.  It also
establishes  standards  for related  disclosures  about  products and  services,
geographic areas and major customers.

     Whitman is organized into two reportable  segments,  the University  Degree
Division and the Associate  Degree  Division.  The  University  Degree  Division
primarily  offers  bachelor,  master  and  doctorate  degrees  through  Colorado
Technical  University.  The Associate Degree Division primarily offers associate
degrees  and  diplomas  or  certificates  through   Sanford-Brown   College  and
Ultrasound Diagnostic Schools.

     Whitman's  revenues are not  materially  dependent on a single  customer or
small group of customers.



                                       9
<PAGE>

                 Whitman Education Group, Inc. and Subsidiaries
 Notes to Condensed Consolidated Financial Statements (Unaudited) - (Continued)


6.   Segment and Related Information - (Continued)


     Summarized financial  information  concerning Whitman's reportable segments
is shown in the following table:

                         For the Three Months            For the Six Months
                          Ended September 30,            Ended September 30,
                       ---------------------------  ----------------------------
                            2002        2001             2002          2001
                       ------------- -------------  ------------- --------------
Net revenues:
  Associate Degree
    Division........   $ 21,079,832  $ 17,400,635   $ 41,051,117  $  32,688,843
  University Degree
    Division........      4,269,864     3,983,664      9,722,695      9,213,572
                       ------------- -------------  ------------- --------------
  Total.............   $ 25,349,696  $ 21,384,299   $ 50,773,812  $  41,902,415
                       ============= =============  ============= ==============

Income (loss) before
 income tax provision:
  Associate Degree
    Division........   $  2,789,947  $  1,458,389   $  5,474,943  $   1,527,244
  University Degree
    Division........     (1,125,700)     (797,795)      (858,188)       (93,371)
  Other.............       (557,217)     (611,216)    (1,120,117)    (1,222,783)
                       ------------- -------------  ------------- --------------
  Total.............   $  1,107,030  $     49,378   $  3,496,638  $     211,090
                       ============= =============  ============= ==============


                       September 30,   March 31,
                           2002          2002
                       ------------- -------------
Total assets:
  Associate Degree
    Division........   $ 63,297,067  $ 52,696,673
  University Degree
    Division........      7,577,808    10,773,292
  Other.............      1,627,306     3,639,264
                       ------------- -------------
  Total.............   $ 72,502,181  $ 67,109,229
                       ============= =============





                                       10
<PAGE>




Item 2.     Management's Discussion and Analysis
            of Financial Condition and Results of Operations

     The following  discussion and analysis  should be read in conjunction  with
the  consolidated  financial  statements  of Whitman,  the related  notes to the
consolidated  financial  statements and Management's  Discussion and Analysis of
Financial  Condition and Results of Operations  included in Whitman's  Form 10-K
for the year  ended  March 31,  2002 and the  condensed  consolidated  financial
statements  and  the  related  notes  to the  condensed  consolidated  financial
statements  included in Item 1 of this Quarterly Report on Form 10-Q. Except for
the historical  matters  contained  herein,  statements  made in this report are
forward-looking  and are made  pursuant  to the safe  harbor  provisions  of the
Securities  Litigation Reform Act of 1995. Such statements may include,  but are
not limited to, statements regarding our anticipated financial performance,  our
financing needs and plans for future resources,  working capital and operations.
Investors  are  cautioned  that  forward-looking  statements  involve  risks and
uncertainties,  including,  but not limited to, risks and uncertainties relating
to the  rate of  student  enrollment  growth,  the  effect  of,  and our and our
accrediting  bodies'  ability  to  comply  with,  state and  federal  government
regulations   regarding   education   and   accreditation   standards,   or  the
interpretation or application  thereof, the level of government funding for, and
our eligibility to participate in, student  financial aid programs,  our ability
to assess and meet the educational  needs and demands of our customers and their
employers,   the  effect  of  competitive   pressures  from  other   educational
institutions,  our ability to execute  our growth  strategy  and manage  planned
internal  growth,  the  effect  of  economic  conditions  in  the  postsecondary
education  industry  and in the  economy  generally,  the  effect of  changes in
taxation and other government regulations,  risks relating to the recoverability
of our goodwill and the  realization  of our deferred tax assets,  and risks and
uncertainties  relating to the  availability  of  financing  which may cause our
actual  results,  performance  or  achievements  to differ  materially  from the
results expressed in the forward-looking  statements made in this report.  Other
factors  that  may  affect  our  future  results   include   certain   economic,
competitive,  governmental  and other factors  discussed in our filings with the
Securities  and  Exchange  Commission.  We  assume no  responsibility  to update
forward-looking statements made herein or otherwise.


Results of Operations

     The  following  table sets  forth the  percentage  relationship  of certain
statement of operations data to net revenues for the periods indicated:

                         For the Three Months Ended     For the Six Months Ended
                               September 30,                  September 30,
                        ---------------------------    -------------------------
                            2002           2001           2002           2001
                        ------------   ------------    -----------   -----------
Net revenues........       100.0%         100.0%         100.0%         100.0%
Costs and expenses:
  Instructional and
    educational
    support.........        63.8           65.7           61.5           66.2
  Selling and
    promotional.....        16.5           17.9           15.9           17.2
  General and
    administrative..        15.0           15.4           15.4           15.3
                        ------------   ------------    -----------   -----------
Total costs and
  expenses..........        95.3           99.0           92.8           98.7
                        ------------   ------------    -----------   -----------
Income from
  operations........         4.7            1.0            7.2            1.3
Other (income) and
  expenses:
  Interest expense..         0.7            1.1            0.7            1.2
  Interest income...        (0.4)          (0.3)          (0.4)          (0.4)
                        ------------   ------------    -----------   -----------
Income before income
  tax provision.....         4.4            0.2            6.9            0.5
Income tax
  provision.........         1.8            0.1            2.8            0.2
                        ------------   ------------   ------------   -----------
Net income..........         2.6%           0.1%           4.1%           0.3%
                        ============   ============   ============   ===========


                                       11
<PAGE>


Results of Operations - (Continued)

Three  Months  Ended  September  30, 2002  Compared to Three  Months  Ended
September 30, 2001

     Net revenues increased by $3.9 million,  or 18.5%, to $25.3 million for the
three months ended  September  30, 2002 from $21.4  million for the three months
ended September 30, 2001. This increase was primarily due to a 10.9% increase in
average student enrollment and an increase in tuition rates.

     The  Associate  Degree  Division  experienced  a 16.9%  increase in average
student  enrollment  and  the  University  Degree  Division  experienced  a 5.5%
decrease in average student  enrollment.  The increase in student  enrollment in
the Associate  Degree Division was primarily due to increased  enrollment in the
medical  assisting and health  information  specialist  programs  offered at the
Ultrasound  Diagnostic  Schools  and  the  allied  health  programs  offered  at
Sanford-Brown  College.  The decrease in student  enrollment  in the  University
Degree  Division was primarily due to a decline in enrollment in the information
technology  programs offered at Colorado Technical  University.  The decrease in
average  student  enrollment in the University  Degree Division was offset by an
increase in the revenue  earned per student due to an increase in tuition  rates
and an increase in auxiliary sales.

     Instructional and educational  support expenses  increased by $2.1 million,
or 15.1%,  to $16.1  million for the three months ended  September 30, 2002 from
$14.0  million for the three months ended  September  30,  2001.  However,  as a
percentage of net  revenues,  instructional  and  educational  support  expenses
decreased to 63.8% for the three months ended  September 30, 2002 as compared to
65.7%  for  the  three  months  ended   September  30,  2001.  The  increase  in
instructional and educational  support expenses was primarily due to an increase
in payroll and related benefits for faculty, academic administrators and student
support  personnel  to support  the  increase  in  enrollment.  The  decrease in
instructional  and educational  support expenses as a percentage of net revenues
was due to our ability to better  leverage  our  instructional  and  educational
support expenses to support an increased revenue base.

     Selling and  promotional  expenses  increased by $0.4 million,  or 9.1%, to
$4.2 million for the three months ended September 30, 2002 from $3.8 million for
the three months ended  September  30, 2001.  As a percentage  of net  revenues,
selling and promotional  expenses  decreased to 16.5% for the three months ended
September 30, 2002 as compared to 17.9% for the three months ended September 30,
2001. The increase in selling and  promotional  expenses was primarily due to an
increase in advertising  expenses  resulting from our marketing efforts directed
at increasing enrollment.  The decrease in selling and promotional expenses as a
percentage  of net  revenues  was due to our  ability  to better  leverage  such
expenses while supporting a growth in revenues.

     General and administrative expenses increased by $0.5 million, or 15.3%, to
$3.8 million for the three months ended September 30, 2002 from $3.3 million for
the three months ended  September  30, 2001.  As a percentage  of net  revenues,
general and  administrative  expenses  decreased  to 15.0% for the three  months
ended  September  30,  2002 as  compared  to 15.4%  for the three  months  ended
September  30,  2001.  The increase in general and  administrative  expenses was
primarily  due to an increase in bad debt expense.  However,  as a percentage of
net  revenues,  bad debt  expense  decreased  to 5.5% for the three months ended
September 30, 2002 from 5.6% for the three months ended September 30, 2001.

     We reported income from operations of $1.2 million and $0.2 million for the
three months ended September 30, 2002 and 2001,  respectively.  This increase in
profitability was primarily due to an increase in income from operations of $1.3
million  in the  Associate  Degree  Division  which was  partially  offset by an
increase in losses from  operations  of $0.3  million in the  University  Degree
Division.



                                       12
<PAGE>


Results of Operations - (Continued)

     We reported  net income of $0.7  million  and $29,627 for the three  months
ended September 30, 2002 and 2001, respectively.  The increase in net income was
primarily due to the increase in profitability in the Associate Degree Division.

Six Months Ended  September 30, 2002 Compared to Six Months Ended  September 30,
2001

     Net revenues increased by $8.9 million,  or 21.2%, to $50.8 million for the
six months ended  September 30, 2002 from $41.9 million for the six months ended
September  30, 2001.  This  increase was  primarily  due to a 10.4%  increase in
average student enrollment and an increase in tuition rates.

     The  Associate  Degree  Division  experienced  a 17.8%  increase in average
student  enrollment  and  the  University  Degree  Division  experienced  a 6.0%
decrease in average student  enrollment.  The increase in student  enrollment in
the Associate  Degree Division was primarily due to increased  enrollment in the
medical  assisting and health  information  specialist  programs  offered at the
Ultrasound  Diagnostic  Schools  and  the  allied  health  programs  offered  at
Sanford-Brown  College.  The decrease in student  enrollment  in the  University
Degree  Division was primarily due to a decline in enrollment in the information
technology  programs offered at Colorado Technical  University.  The decrease in
average  student  enrollment in the University  Degree Division was offset by an
increase in the  revenue  earned per student due to an increase in the number of
credit hours taken by students at Colorado Technical University,  an increase in
tuition rates, and an increase in auxiliary sales.

     Instructional and educational  support expenses  increased by $3.4 million,
or 12.4%,  to $31.2  million for the six months  ended  September  30, 2002 from
$27.8  million for the six months ended  September  30, 2001. As a percentage of
net revenues,  instructional and educational support expenses decreased to 61.5%
for the six months  ended  September  30,  2002 as compared to 66.2% for the six
months ended September 30, 2001. The increase in  instructional  and educational
support  expenses  was  primarily  due to an  increase  in payroll  and  related
benefits for faculty,  academic  administrators and student support personnel to
support  the  increase  in  enrollment.   The  decrease  in  instructional   and
educational  support  expenses as a  percentage  of net  revenues was due to our
ability to better leverage our instructional and educational support expenses to
support an increased revenue base.

     Selling and promotional  expenses  increased by $0.9 million,  or 12.1%, to
$8.1 million for the six months ended  September  30, 2002 from $7.2 million for
the six months ended  September  30,  2001.  As a  percentage  of net  revenues,
selling and  promotional  expenses  decreased  to 15.9% for the six months ended
September  30, 2002 as compared to 17.2% for the six months ended  September 30,
2001. The increase in selling and  promotional  expenses was primarily due to an
increase in advertising  expenses  resulting from our marketing efforts directed
at increasing enrollment.  The decrease in selling and promotional expenses as a
percentage  of net  revenues  was due to our  ability  to better  leverage  such
expenses while supporting a growth in revenues.

     General and administrative expenses increased by $1.4 million, or 22.3%, to
$7.8 million for the six months ended  September  30, 2002 from $6.4 million for
the six months ended  September  30,  2001.  As a  percentage  of net  revenues,
general and administrative  expenses increased to 15.4% for the six months ended
September  30, 2002 as compared to 15.3% for the six months ended  September 30,
2001. The increase in general and  administrative  expenses was primarily due to
an increase in  administrative  payroll expenses and related benefits to support
the growth in student  population and an increase in bad debt expense.  However,
for the six months ended September 30, 2002, bad debt expense as a percentage of
net revenues  decreased to 5.4% from 5.6% for the six months ended September 30,
2001.


                                       13
<PAGE>


Results of Operations - (Continued)


     We reported income from operations of $3.7 million and $0.5 million for the
six months ended  September  30, 2002 and 2001,  respectively.  This increase in
profitability was primarily due to an increase in income from operations of $3.9
million  in the  Associate  Degree  Division  which was  partially  offset by an
increase in losses from  operations  of $0.8  million in the  University  Degree
Division.

     We reported  net income of $2.1 million and $0.1 million for the six months
ended September 30, 2002 and 2001, respectively.  The increase in net income was
primarily due to the increase in profitability in the Associate Degree Division.

Seasonality

     We  experience  seasonality  in our  quarterly  results of  operations as a
result of changes  in the level of student  enrollment.  New  enrollment  in our
schools tends to be lower in the first and second fiscal  quarters  covering the
summer months, which are traditionally associated with recess from school. Costs
are generally not significantly  affected by the seasonal factors on a quarterly
basis.  Accordingly,  quarterly  variations  in  net  revenues  will  result  in
fluctuations in income from operations on a quarterly basis.

Liquidity and Capital Resources

     Cash and cash  equivalents  at  September  30, 2002 and March 31, 2002 were
$14.3 million and $14.0 million, respectively. Our working capital totaled $11.9
million at September 30, 2002 and $9.9 million at March 31, 2002.

     Net cash of $3.1  million  and $1.5  million  were  provided  by  operating
activities for the six months ended  September 30, 2002 and 2001,  respectively.
The  increase  in cash  provided by  operating  activities  of $1.6  million was
primarily due to an increase in net profits of $2.0 million.

     Net cash of $1.6 million and $0.7 million were used in investing activities
for the six months ended September 30, 2002 and 2001, respectively. The net cash
used in investing activities related to the purchase of property and equipment.

     Net cash of $1.3 million and $2.9 million were used in financing activities
for the six months ended September 30, 2002 and 2001, respectively. The net cash
used in financing activities related to principal payments made on our long-term
debt, line of credit and capital lease obligations net of proceeds received from
such  financings,  and proceeds  received from  purchases in our employee  stock
purchase plan and from the exercise of stock options.  The decrease in cash used
in financing activities was due to a decrease of $1.4 million in net payments on
long-term debt and capitalized lease obligations.


                                       14
<PAGE>


Liquidity and Capital Resources - (Continued)

     We have a $3.5 million line of credit which expires on October 31, 2003. At
September  30,  2002,  we had no  outstanding  balance  under this  facility and
letters of credit outstanding of $0.5 million which reduced the amount available
for borrowing.

     Our  primary  source  of  operating  liquidity  is the cash  received  from
payments of tuition and fees.  Most students  attending our schools receive some
form of  financial  aid under Title IV Programs.  Approximately  65% of our cash
collections  are from  students  who  received  funds  from  Title IV  Programs.
Disbursements  under each program are subject to  disallowance  and repayment by
the schools. Because a significant percentage of our revenue is derived from the
Title IV Programs,  any  legislative  or  regulatory  action that  significantly
reduces  Title IV Program  funding or the  ability of our schools or students to
participate in the Title IV Programs could have a material adverse effect on our
short-term and long-term liquidity.

     We believe that with our working  capital,  our cash flow from  operations,
and our line of credit, we will have adequate  resources to meet our anticipated
operating requirements for the foreseeable future.


Contractual Obligations and Other Commercial Commitments

     The following summarizes our contractual obligations at September 30, 2002,
and the effect such  obligations  are expected to have on our liquidity and cash
flow in future periods (in thousands):

                                      Payments Due by Period
                           -----------------------------------------------------
                                     Within                               After
                            Total    1 Year    2-3 Years    4-5 Years    5 Years
                           -------   --------  ---------    ---------    -------
Note payable               $ 5,308   $ 1,300   $  2,600     $  1,408     $     -
Capital lease obligations    3,750     1,550      1,926          274           -
Operating leases            28,122     5,427      9,626        6,987       6,082
                           -------   --------  ---------    ---------    -------
                           $37,180   $ 8,277   $ 14,152     $  8,669     $ 6,082
                           =======   ========  =========    =========    =======

     We have a contractual  commitment  related to a $3.5 million line of credit
which expires on October 31, 2003. At September 30, 2002, we had no  outstanding
balance under this facility and letters of credit  outstanding  of $0.5 million,
which reduced the amount available for borrowing.


Transactions with Former Management

     We purchase certain textbooks and materials for resale to our students from
an entity  that is 40%  owned by Randy S.  Proto,  our  former  Chief  Operating
Officer and President.  For the six months ended September 30, 2002 and 2001, we
purchased  approximately  $69,000 and $73,000,  respectively,  in textbooks  and
materials from that entity.




                                       15
<PAGE>



Critical Accounting Policies and Estimates

     Financial  Reporting  Release No. 60 encourages  all companies to include a
discussion of critical accounting policies or methods used in the preparation of
financial statements. Note 1 to the Consolidated Financial Statements of Whitman
Education  Group,  Inc. for the fiscal year ended March 31, 2002 included in our
Form 10-K as filed  with the  Securities  and  Exchange  Commission  includes  a
summary  of  the  significant  accounting  policies  and  methods  used  in  the
preparation of our Consolidated  Financial Statements.  The following is a brief
discussion of the more significant accounting policies and methods used by us.

     Our  discussions  and analysis of our  financial  condition  and results of
operations are based upon our consolidated financial statements, which have been
prepared in accordance  with  accounting  principles  generally  accepted in the
United States of America. The preparation of these financial statements requires
us to make estimates and assumptions  that affect the reported amounts of assets
and liabilities  and the disclosure of contingent  assets and liabilities at the
date of the  financial  statements  and the  reported  amounts of  revenues  and
expenses  during the  reported  period.  On an on-going  basis,  we evaluate our
estimates,   including  those  related  to  allowance  for  doubtful   accounts,
intangible  assets,  accrued  liabilities,  income and other tax  accruals,  and
contingencies and litigation. We base our estimates on historical experience and
on various  other  assumptions  that are  believed  to be  reasonable  under the
circumstances,  the results of which form the basis for making  judgments  about
the carrying values of assets and liabilities that are not readily apparent from
other sources.  Actual results may differ from these  estimates  under different
conditions or if our assumptions change.

     We believe  the  following  critical  accounting  policies  affect our more
significant  judgments and estimates  used in the  preparation  of our financial
statements:

o    We maintain  an  allowance  for  doubtful  accounts  for  estimated  losses
     resulting  from the  inability,  failure or refusal of our students to make
     required payments. We determine the adequacy of this allowance by regularly
     reviewing the accounts  receivable aging and applying various expected loss
     percentages  to certain  student  account  receivable  categories  based on
     historical bad debt experience.  We charge-off accounts receivable balances
     deemed  to  be  uncollectible  usually  after  they  have  been  sent  to a
     collection  agency  and  returned  uncollected.   While  such  losses  have
     historically been within our  expectations,  there can be no assurance that
     we will continue to experience the same level of losses that we have in the
     past.  Furthermore,  because a  significant  percentage  of our  revenue is
     derived from the Title IV Programs,  any  legislative or regulatory  action
     that  significantly  reduces Title IV Program funding or the ability of our
     schools or students to  participate  in the Title IV Programs  could have a
     material adverse effect on the  collectability  of our accounts  receivable
     and our future operating results,  including a reduction in future revenues
     and additional allowances for doubtful accounts.

o    We have made acquisitions in the past that have resulted in the recognition
     of goodwill.  In assessing the recoverability of our goodwill, we must make
     assumptions  regarding  estimated  future  cash flows and other  factors to
     determine the fair value of the  respective  asset.  If these  estimates or
     their  related  assumptions  change in the  future,  we may be  required to
     record  impairment  charges for this asset not  previously  recorded  which
     would  adversely  impact our  operating  results for the period in which we
     made the determination. There are many assumptions and estimates underlying
     the determination of an impairment loss.  Another estimate using different,
     but still reasonable  assumptions  could produce a significantly  different
     result. Therefore, impairment losses could be recorded in the future.



                                       16
<PAGE>



Critical Accounting Policies and Estimates - (Continued)

o    We  currently  have  deferred  tax assets  which are  subject  to  periodic
     recoverability  assessments.  Realization  of our  deferred  tax  assets is
     principally  dependent upon achievement of projected future taxable income.
     We evaluate the realizability of our deferred tax assets quarterly.

New Accounting Pronouncement

     In August 2001, the Financial  Accounting  Standards Board issued Statement
of Financial  Accounting  Standards No. 144,  "Accounting  for the Impairment or
Disposal  of  Long-Lived  Assets"  ("SFAS  144").  SFAS  144  requires  that one
accounting  model be used for  long-lived  assets to be  disposed of by sale and
broadens the  presentation of  discontinued  operations to include more disposal
transactions.  SFAS 144 supercedes  FASB Statement No. 121,  "Accounting for the
Impairment  of  Long-Lived  Assets to Be  Disposed  Of" and the  accounting  and
reporting   provisions  of  APB  Opinion  No.  30,  "Reporting  the  Results  of
Operations-Reporting  the Effects of  Disposal  of a Segment of a Business,  and
Extraordinary,  Unusual, and Infrequently Occurring Events and Transactions" for
the  disposal of a segment of a business.  The  adoption of SFAS 144,  which was
effective  April 1, 2002,  did not have an impact on our  financial  position or
results of operations.

     In June 2002, the Financial  Accounting Standards Board issued Statement of
Financial  Accounting  Standards No. 146,  "Accounting for Costs Associated with
Exit  or  Disposal  Activities"  ("SFAS  146").  SFAS  146  addresses  financial
accounting and reporting for costs associated with exit or disposal  activities.
This  statement is effective  for exit or disposal  activities  initiated  after
December 31,  2002.  We are not  currently  engaged in any  significant  exit or
disposal  activities  and do not  expect  the  adoption  of SFAS 146 to have any
impact on our financial position or results of operations.

Outlook

     The principal  factors that we now expect will influence our 2003 financial
outlook include changes and trends in:

o    our student population;
o    our allowance for doubtful accounts and bad debt expense;
o    the level of governmental funding for student financial aid programs; and
o    governmental regulations, accreditation standards, or taxation.

     Other  factors that could impact our 2003  financial  outlook are discussed
above and in our other filings with the Securities and Exchange Commission.

     Based on information and forecasts  available to us, we now expect revenues
for the year ending  March 31,  2003 to  increase to the range of  approximately
$103.0 million to $105.0 million,  operating income to increase to approximately
$9.1 million to $9.7 million,  and net income to increase to approximately  $5.2
million to $5.6  million.  In such case,  we would expect  diluted  earnings per
share to increase to  approximately  $0.34 to $0.36 based on our  expectation of
approximately  15.6 million  diluted common shares to be  outstanding  under the
treasury stock method.


                                       17
<PAGE>



Item 4.   Controls and Procedures

     Within  90 days  prior  to the  date  of this  report,  we  carried  out an
evaluation,  under the supervision and with the participation of our management,
including  our Chief  Executive  Officer  and Chief  Financial  Officer,  of the
effectiveness  of the  design  and  operation  of our  disclosure  controls  and
procedures pursuant to Exchange Act Rule 13a-14. Based upon that evaluation, our
Chief  Executive   Officer  and  Chief  Financial  Officer  concluded  that  our
disclosure  controls and  procedures  are  effective to ensure that all material
information  relating  to us and our  consolidated  subsidiaries  required to be
included  in this  quarterly  report  has  been  made  known to them in a timely
fashion.  No significant  changes were made in our internal controls or in other
factors that could significantly affect internal controls subsequent to the date
of their evaluation.


PART II - OTHER INFORMATION

Item 4.   Submission of Matters to a Vote of Security Holders

Annual Shareholders' Meeting

     On August 15, 2002, Whitman held its annual meeting of shareholders. At the
meeting,  all of the nominees  for  director  were elected by the vote set forth
opposite their names in the table below:

     Election of Directors               For                  Withheld
     ---------------------               ---                  --------
     Phillip Frost, M.D.              13,648,374                1,113
     Richard C. Pfenniger, Jr.        13,590,234               59,253
     Jack R. Borsting, Ph.D           13,648,122                1,365
     Neil Flanzraich                  13,648,122                1,365
     Peter S. Knight                  13,646,374                3,113
     Richard M. Krasno, Ph.D.         13,646,374                3,113
     Lois F. Lipsett, Ph.D.           13,648,374                1,113
     Percy A. Pierre, Ph.D.           13,648,374                1,113
     A. Marvin Strait, C.P.A.         13,648,374                1,113


Item 6.   Exhibits and Reports on Form 8-K


     (a) Exhibits
         --------
         Exhibit
         Number      Description                                Method of Filing
         --------    -----------                                ----------------
          99.1       Certification of Chief Executive Officer    Filed herewith.

          99.2       Certification of Chief Financial Officer    Filed herewith.

     (b) Reports on Form 8-K
         -------------------

          No reports on Form 8-K were filed by Whitman  during the quarter ended
     September 30, 2002.



                                       18
<PAGE>

                                                   SIGNATURES


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                                   WHITMAN EDUCATION GROUP, INC.




Date: November 7, 2002                            By:  /s/ FERNANDO L. FERNANDEZ
                                                       -------------------------
                                                       Fernando L. Fernandez
                                                       Vice President - Finance,
                                                       Chief Financial Officer,
                                                       Treasurer and Secretary

                                       19
<PAGE>


                                  CERTIFICATION
                                  -------------

I, Richard C. Pfenniger, Jr., certify that:

1.   I have reviewed  this  quarterly  report on Form 10-Q of Whitman  Education
     Group, Inc.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

a)   designed such  disclosure  controls and  procedures to ensure that material
     information   relating  to  the  registrant,   including  its  consolidated
     subsidiaries,  is  made  known  to  us by  others  within  those  entities,
     particularly  during  the period in which  this  quarterly  report is being
     prepared;

b)   evaluated the  effectiveness  of the registrant's  disclosure  controls and
     procedures  as of a date  within 90 days prior to the  filing  date of this
     quarterly report (the "Evaluation Date"); and

c)   presented in this quarterly report our conclusions  about the effectiveness
     of the disclosure controls and procedures based on our evaluation as of the
     Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent function):

a)   all  significant  deficiencies  in the  design  or  operation  of  internal
     controls which could adversely affect the  registrant's  ability to record,
     process,  summarize and report  financial data and have  identified for the
     registrant's auditors any material weaknesses in internal controls; and

b)   any fraud,  whether or not  material,  that  involves  management  or other
     employees  who  have  a  significant  role  in  the  registrant's  internal
     controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.



Date: November 7, 2002                          By: /s/RICHARD C. PFENNIGER, JR.
                                                    ----------------------------
                                                    Richard C. Pfenniger, Jr.
                                                    Chief Executive Officer

                                       20
<PAGE>


                                  CERTIFICATION
                                  -------------

I, Fernando L. Fernandez, certify that:

1.   I have reviewed  this  quarterly  report on Form 10-Q of Whitman  Education
     Group, Inc.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

a)   designed such  disclosure  controls and  procedures to ensure that material
     information   relating  to  the  registrant,   including  its  consolidated
     subsidiaries,  is  made  known  to  us by  others  within  those  entities,
     particularly  during  the period in which  this  quarterly  report is being
     prepared;

b)   evaluated the  effectiveness  of the registrant's  disclosure  controls and
     procedures  as of a date  within 90 days prior to the  filing  date of this
     quarterly report (the "Evaluation Date"); and

c)   presented in this quarterly report our conclusions  about the effectiveness
     of the disclosure controls and procedures based on our evaluation as of the
     Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent function):

a)   all  significant  deficiencies  in the  design  or  operation  of  internal
     controls which could adversely affect the  registrant's  ability to record,
     process,  summarize and report  financial data and have  identified for the
     registrant's auditors any material weaknesses in internal controls; and

b)   any fraud,  whether or not  material,  that  involves  management  or other
     employees  who  have  a  significant  role  in  the  registrant's  internal
     controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date: November 7, 2002                              By: /s/FERNANDO L. FERNANDEZ
                                                        ------------------------
                                                        Fernando L. Fernandez
                                                        Vice President-Finance,
                                                        Chief Financial Officer,
                                                        Treasurer and Secretary


                                       21
<PAGE>