On Thursday, DeVry Education Group, the parent company of DeVry University, announced it has agreed to settle a lawsuit with the U.S. Federal Trade Commission for $100 million.
The settlement comes after the FTC accused the school of false advertising, specifically for a number of radio, television, online, and print ads that reportedly claimed 90% of DeVry graduates found work in their chosen fields within six months of graduation, and on average earned 15% or more a year than similar graduates of other schools.
Although DeVry denied all allegations, its own internal data showed no significant difference between the salaries of its graduates and those of other schools, the Washington Post reports. The school did not acknowledge any wrongdoing.
Under the settlement, DeVry will pay $49.4 million to students who claimed they were hurt by the deceptive ads. The rest of the settlement—$50.6 million—will go to relieving any debt owed by students for tuition and fees. It also requires DeVry to accurately advertise its postgraduate employment statistics and salaries.
