DeVry University Settles Lawsuit for $100 M to Cover Students’ Loans and Tuition

Last week the Federal Trade Commission announced that DeVry University had settled a major lawsuit that alleged the University put out false advertising claiming that their graduates found employment within six months of graduation at up to 15% higher salaries than students who graduated from other universities. 

“When people are making important decisions about their education and their future, they should not be misled by deceptive employment and earnings claims,” said Edith Ramirez, the F.T.C chairwoman in a statement

Under the settlement, $51 million in debt relief will be granted and an additional $49 Million in cash will be paid to students harmed by the advertising.  Tens of thousands of students stand to benefit from the agreement according to the F.T.C.

The settlement also contained provisions to prevent the University from making misleading statements in the future.

The full article can be read in the business section of The New York Times of December 15, 2016.