The Federal Trade Commission has negotiated a settlement in its deceptive advertising lawsuit against DeVry University. Previously, two separate groups of former DeVry students had sued the university over inflated graduate employment claims, but both suits have already been settled.
In its advertising, DeVry claimed that around 90 percent of its graduates landed jobs within six months of graduation provided they actively sought employment. Prospective students were impressed, and lots of relied on those claims when deciding what college to attend.
What those students didn’t know was that DeVry was counting graduates who already had jobs once they enrolled – students who were upgrading their skills instead of training for a replacement career. consistent with the FTC, DeVry misleadingly counted a considerable number of such graduates when it claimed its 90-percent job placement success rate.
DeVry graduate that attended between 2010 to 2013 that accrued over $ 50,000 in debt from pursuing my education. I just received a letter from the FTC with my portion of the lawsuit payout (which wasn’t even enough to hide half one among my monthly payments). within the letter it mentioned that i’m ready to pursue further federal aid within the sort of Borrower’s Defense if i’m eligible.
I graduated DeVry with a 3.91 GPA and still haven’t landed employment in my degree field and that i am drowning under the load of this debt. Is Borrowers Defense something I should plan to file for, and do I even have a reasonably good chance of receiving it? many thanks everyone beforehand for the help!
As a consequence, now DeVry University has to pay $100,000,000 according to the settlement. These amounts will pay back the former students of the DeVry via the FTC’s as we mentioned above. If you do not agree with the refund, you can apply for Borrower’s Defense Discharge Program. All of the illicit and improper activities of the DeVry University give you a chance to get rid of student loans and take advantage of this Forgiveness Program.
Which of these Loan Forgiveness Programs are suitable for you?
As you’ve read above, there are two types of forgiveness program, and both Borrower’s Defense Discharge Program and The FTC’s Settlement with DeVry offer you financial support.
Who is qualified for the refund program of the FTC’s Settlement with DeVry?
In 2017, the FTC began to send refund checks to the former students of The DeVry University. The average amount of refund was about $280.
These refunds are offered to those who were attended the degree programs of the DeVry University between on 1 January 2008 and 1 October 2015 and completed at least one class credit. Also, you could benefit from the program if you have paid some amount, for example, at least $5,000 by cash and did not get debt or loan forgiveness.
These partial refunds sound good, as the settlement between FTC and DeVry provide students with some amount of money. Otherwise, this amount ($300) is not enough comparing the money students paid for the University. So it does not make sense, if you in debt to DeVry much more then $300. Fortunately, there is another option which you could get an advantage.
All of these lawsuits are correct as the DeVry University has admitted all of its illicit activities. For instance, they admitted that they used false ads marketing strategy like giving information about the income levels of their graduates and job placement rates via the internet, TV and other social platforms. As a result, they could get more attention to the students. The adverse side of the Borrower’s Defense Discharge program is that you might wait for the result of the forgiveness for about a year. So most of the former students of the DeVry University try to benefit from this DeVry University Loan Forgiveness Program.