DEVRY SETTLEMENT INCLUDES $100 MILLION FOR REFUNDS AND DEBT FORGIVENESS and includes:
$49.4 million that the FTC will use to provide partial refunds to people who paid for DeVry classes.
$50.6 million to provide loan and debt forgiveness for students who currently owe money to DeVry.
The settlement requires DeVry University to forgive and cancel the entire unpaid balance of all private student loans issued by DeVry University between September 1, 2008 and September 30, 2015.
The settlement also requires DeVry to cancel $20.25 million in debts owed to DeVry University by eligible students for things such as tuition, books and lab fees.
DeVry University will send an email and letter to affected students within 30 days after the judgment is entered.
The FTC also will administer a refund program.
For FAQs regarding the FTC’s program click here: DeVry Refunds and Debt Forgiveness | Federal Trade Commission