University of Phoenix to cancel $141 million in student debt

“The campaign occurred under prior ownership and concluded before the FTC’s inquiry began. We continue to believe the University acted appropriately,” the company said.

Under the settlement, the University of Phoenix and Apollo will cancel all remaining debt for students who first enrolled between Oct. 1, 2012, and the end of 2016. Letters will be sent to borrowers saying they no longer owe payments to the school. The school is also barred from making false claims about its relationships with companies or employers.

Instead, many of the companies touted as corporate partners were actually part of the University of Phoenix's"Workforce Solutions” program that provided discounted tuition to their employees in exchange for the companies' help promoting the school.Some companies that were asked to participate in the ads raised objections about the way they were being portrayed, investigators found.

But if anyone had sold investment plans with as little risk disclosure universities and professors do when selling investments in their education plans, and then the investments had soured, he would probably be trotting away to prison.

Jeff_McE That’s mighty white of them, bless their cold greedy hearts.

$141m is a drop in the bucket for UOPX compared to how much they make per semester, per year.

Univ of Phoenix is a sick joke. Le's shut these for-profit-at -all-costs a-holes down now.

RadioFreeTom Shoutout to the working MBAs who already retired and don’t have to worry about UoP’s charred reputation.

grahamelwood RonPlacone aaronjmate

Sound like a deal from the Trump school, maybe we should hang them high like they wanted to do to Trump.

Like a lot of for-profit schools, University of Phoenix has always been sketchy.

Ok

I don’t have any student debt but this is a win for those who do

And maybe the whole board of directors need to be fired? No? 🤷‍♂️

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