Beginning Wednesday, the Federal Trade Commission is mailing 173,000 refund checks to some students as part of its settlement with DeVry University over deceptive advertising.
The checks are worth more than $49 million, but to get one of the refunds, the following criteria must be met:
- The student must have been enrolled for the first time in a bachelor’s or associate’s degree program between Jan. 1, 2008 and Oct. 1, 2015.
- The student must have paid at least $5,000 with cash, loans or military benefits.
- The student did not receive debt or loan forgiveness as part of the settlement.
- The student must have completed at least one class credit.
The FTC and DeVry reached a $100 million settlement in December, with $50.6 million going to debt relief, in a lawsuit alleging the for-profit university misled students over high employment success rates and income levels after graduation.