December 15, 2016 / 5:01 PM / 8 months ago

DeVry University agrees to $100 million settlement with FTC

WASHINGTON, Dec 15 (Reuters) - DeVry University, one of a series of for-profit schools under scrutiny because of deceptive ads, has agreed to settle with the Federal Trade Commission for $100 million, the agency said on Thursday.

Under the settlement, DeVry will forgive $50.6 million in debt owed by students for tuition and fees as well as pay $49.4 million to students harmed by the deceptive ads.

DeVry had been accused of falsely claiming that 90 percent of graduates found jobs in their field within six months of graduating, among other false assertions. (Reporting by Diane Bartz)

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