DeVry University Lawsuit Loan Forgiveness: A Guide to Relief

If you're a former DeVry University student, you may be eligible for loan forgiveness due to a lawsuit settlement.

The lawsuit against DeVry University was related to the university's advertising practices, specifically its claims about job placement rates and graduate salaries.

In 2016, the U.S. Department of Education agreed to forgive the loans of approximately 250,000 DeVry University students who were enrolled in certain programs between 2008 and 2015.

This loan forgiveness is a result of DeVry University's alleged misrepresentation of job placement rates and graduate salaries, which is a serious offense.

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DeVry University has agreed to a $100 million settlement of a federal lawsuit alleging that it falsely advertised the success of its graduates.

The settlement includes about $51 million in debt relief and an additional $49 million in cash to be paid to students harmed by the ads.

Tens of thousands of students stand to benefit from the agreement.

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The debt relief includes about $30 million to cover the balance owed on all private student loans DeVry issued to undergraduates over the course of seven years, from September 2008 to September 2015.

Debt relief also includes about $20 million to forgive debt related to tuition, books, and lab fees.

The refunds and debt relief will be automatically processed.

DeVry will inform credit bureaus and collection agencies of the debt relief.

The settlement also includes provisions designed to prevent the school from misleading consumers in the future.

Here are the details of the debt relief:

The Education Department has taken a major step in wiping out loans for students defrauded by DeVry University.

At least 1,800 students who attended DeVry between 2008 and 2015 will have their federal student loans canceled due to the school's fraudulent claims about career prospects.

The Education Department has approved fraud claims involving a school that is still operating, marking a significant move.

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Students who attended DeVry during the time it was making false promises should apply for relief, as officials want to help more students affected by the school's actions.

DeVry advertised that 90 percent of its graduates found work in their field of study within six months, but the reality was only 58 percent did.

The school's officials knew of the discrepancy and ignored complaints from alumni, department officials said.

DeVry students will split a $50 million refund and another $50 million in loan forgiveness as part of a false-advertising lawsuit settlement.

Here's a breakdown of the debt forgiveness:

DeVry will automatically forgive these debts, and students will not need to sign up or take any action.

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