The Federal Trade Commission (FTC) announced a $100 million settlement that includes $49.4 million in payments to students and $50.6 million in loan forgiveness.

DeVry students qualify if they took classes between January 1, 2008 and September 30, 2015. There is no need to sign up — DeVry will send a notice in the mail within 30 days.

The refund amount will depend on how much the student paid, and it may not be the full amount of their loss. The payouts will be sent in 2017.

DeVry will automatically forgive the full balance — $30.35 million — of all unpaid student loans issued between September 2008 and September 2015. DeVry will also forgive $20.25 million in student debt for things like tuition, books, and lab fees.

DeVry will notify students who qualify, inform credit bureaus and collection agencies, and release transcripts and diplomas it withheld over unpaid debt.

For more information about the refund and debt forgiveness program, visit ftc.gov/devry and, sign up here to get updates by email, or call 844-578-2645.

In January 2015, the FTC filed a lawsuit against DeVry for falsely advertising that 90% of graduates landed a job in their field within six months. The FTC said many of those graduates were actually waiting tables, selling cars, or doing jobs unrelated to their degree.

DeVry also claimed graduates made 15% more money one year after graduation than all other colleges and universities, and stood by the claim even after its own internal data showed no difference in salary, according to the FTC.

The settlement requires DeVry to specifically prove any future advertising claims regarding graduation outcomes and educational benefits. DeVry agreed to stop making the 90% claim as part of a separate settlement with the U.S. Department of Education in October.

The company said it chose to settle the lawsuits after “denying all allegations of wrongdoing” and said “at no time has the academic quality of a DeVry University education been questioned.”

Source: DeVry Refunds and Debt Forgiveness

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3 Comments

  1. Hello,
    what about Keller Graduate School of Management? My husband and me, both own $350,000 to KGSM; we began school in May 2008 and graduated in June 2011. Were not able to find employment with our couple masters. In November 2016, my husband was employed with maintenance assistance position for $20p/h. We are currently in our 50 and have no suitable employment for what we got our masters, no house, no retirement no savings for our kids schooling. Waiting till get discharge our student loans and get fresh start with better credit history to build up our life.
    Best Regards Adira Wiseman

    Reply

    1. For more information about the refund and debt forgiveness program, visit http://www.ftc.gov/devry or call 844-578-2645

      If you have US federal loans, go to the Department of Education’s StudentAid.gov. You will see information about applying for forgiveness and cancellation of loans. There is also information about other repayment programs, such as the income-driven repayment.

      There is information about a type of loan forgiveness called “borrower defense discharge” at http://www.studentaid.gov/borrower-defense . You do not need to pay to apply for these programs.

      If you borrowed from a private lender (not the US Department of Education) you can contact your loan servicer directly. Ask them what repayment options they offer.

      Reply

  2. Basically who ever is reading this. File for borrowers defense against repayment on Devry scam school. False advertising and liars.

    Reply

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