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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University of Phoenix to cancel $141 million in student debtUniv. of Phoenix and its parent company have agreed to pay $50M in cash and cancel $141M in student debt to settle allegations of deceptive advertisement brought by the Federal Trade Commission. And maybe the whole board of directors need to be fired? No? 🤷♂️ I don’t have any student debt but this is a win for those who do
Source: NBCNews - 🏆 10. / 86 Read more »
U of Phoenix agrees to cancel $141 million in student loan debtNEW: Univ. of Phoenix and its parent company have agreed to pay $50M in cash and cancel $141M in student debt to settle allegations of deceptive advertisement brought by the Federal Trade Commission. Wait, what? I enrolled in UoP online in 2014 and received my degree in 2017. If I'm reading this correctly my student loans will be cancelled? Hey... okstate take away our student loans...
Source: NBCNews - 🏆 10. / 86 Read more »
U of Phoenix agrees to cancel $141 million in student loan debtNEW: Univ. of Phoenix and its parent company have agreed to pay $50M in cash and cancel $141M in student debt to settle allegations of deceptive advertisement brought by the Federal Trade Commission. Wait, what? I enrolled in UoP online in 2014 and received my degree in 2017. If I'm reading this correctly my student loans will be cancelled? Hey... okstate take away our student loans...
Source: NBCNews - 🏆 10. / 86 Read more »
University of Phoenix to cancel $141 million in student debtUniv. of Phoenix and its parent company have agreed to pay $50M in cash and cancel $141M in student debt to settle allegations of deceptive advertisement brought by the Federal Trade Commission. And maybe the whole board of directors need to be fired? No? 🤷♂️ I don’t have any student debt but this is a win for those who do
Source: NBCNews - 🏆 10. / 86 Read more »
University of Phoenix Settles Deceptive Advertising Claims for $191 MillionThe University of Phoenix has agreed to pay a $191 million to settle Federal Trade Commission charges that it used deceptive marketing to recruit students by touting relationships with high-profile companies. was never going to get paid anyway Great Need To Know!
Source: WSJ - 🏆 98. / 63 Read more »