PHOENIX – The University of Phoenix has agreed to a $191 million settlement with the Federal Trade Commission over claims that students were harmed by deceptive advertising, the commission announced Tuesday.
The university is based in Phoenix and had nearly 100,000 students last year. Students primarily take classes online. The school was owned by a publicly-traded company from 1994 to 2016, when it was sold to private investors. At its peak, the school had more than 470,000 students. Today's action against University of Phoenix and future actions against scam schools will set the stage for canceling more student debt and terminating bad-actor access to valuable government benefits. https://t.co/ySQdYXQKEfStory continuesThe FTC started its investigation of University of Phoenix in 2015.
But the companies were not partnered with the university, and the companies were instead used in advertisements as a marketing strategy, according to the FTC.Time to start student loan payments?: Here's what you need to know to avoid mistakes Students who have outstanding debts owed directly to the university and who were first enrolled between Oct. 1, 2012, and Dec. 31, 2016, will be able to have those debts forgiven, the university said.The university will automatically relieve the outstanding balances for students who qualify, and students don't need to take any action. They will be notified by the university about the process, the school said on a website that answers questions about the settlement.
But that wasn't differentiating the school enough from other options, and enrollment was declining, the FTC said.
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