DeVry University and its parent company will pay $100 million to settle a lawsuit, brought by the Federal Trade Commission, that claimed the for-profit institution had misled prospective students. A news release from the commission says the settlement 鈥渟ecures significant financial redress for tens of thousands of students harmed by DeVry鈥檚 conduct.鈥
The commission鈥檚 lawsuit, filed last January, involved advertisements that said 90 percent of DeVry鈥檚 job-seeking graduates were employed in their field within six months of graduating. The university also said its graduates had incomes 15 percent higher than those of graduates of other institutions one year after graduation.
The FTC鈥檚 complaint said those claims, used in DeVry鈥檚 marketing material and advertisements, were exaggerated and deceptive.
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