A record payment of $191 Million is being made for the settlement of a complaint that had been filed by the FTC (Federal Trade Commission) against the University of Phoenix. The University had been accused of luring the students by using deceptive ads as it promised them the job opportunities in the future with companies like Adobe, AT&T, Twitter, and a few other companies.
This settlement also includes a plan of canceling student debts worth $141 Million which are owed by people who had enrolled from the month of October 2012 till the end of 2016 to the school. This is the period where the FTC has said that the prospective students may have been duped.
The documents of the court which establish this settlement have given the university and its parent company a time of 15 business days for sending an email and a letter to the students who are eligible and informing them that they are going to be covered by the said agreement.
This letter is also going to state that the school has a time of 55 business days for telling the agencies of credit reporting to delete the student debts from the reports of credit.
FTC has said that the university had suggested wrongly that it has been working closely with the companies that have a high profile for the development of their courses. The ads have said to have hyped the connections with the employers that were being shown as a potential.
The FTC has accused this university of giving the wrong impression that this university had worked with the companies for the creation of job opportunities for the students and that the curriculum is suitable for these jobs.
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