DeVry University, ITT Technical Institute, and Minnesota School of Business/Globe University misled thousands of students, the Education Department said on Wednesday as it announced it will nullify $415 million in student debt. The agency said that it intends to force the private for-profit DeVry University to cover the cost of the $71.7 million in loan discharges for some 1,800 borrowers who say they were defrauded by the university. The school “made widespread substantial misrepresentations about its job placement rates” from 2008 to 2015 in order to get new students to enroll, the department concluded. The university repeatedly misled prospective students across the country with claims that 90 percent of its graduates who actively seek employment obtained jobs in their field of study within six months of graduation, the department found. DeVry’s actual job placement rate was around 58 percent, the agency said, noting that senior DeVry officials were, for years, …
Education Department to Forgive $415 Million in Student Loans, Citing Misleading Job Placement Rates
February 17, 2022
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