By Sharon Aron Baron
Nearly $50 million is being sent to former University of Phoenix students following a settlement over accusations the school engaged in deceptive advertising,
The Federal Trade Commission is sending payments totaling nearly $50 million to more than 147,000 University of Phoenix students who they allege used deceptive advertisements that falsely touted its relationships and job opportunities with companies such as AT&T, Yahoo!, Microsoft, Twitter, and the American Red Cross.
The FTC also alleged that the for-profit school’s advertising gave the false impression that the online school worked with those companies to create job opportunities for its students and tailor its curriculum for such jobs.
In addition to the nearly $50 million in direct payments for some students, the $191 million settlement includes $141 million to cancel unpaid balances owed directly to the school by eligible students.
Other debts, such as federal and private student loans or military benefits, are not affected by this settlement.
The FTC is mailing 146,804 checks and issuing 677 PayPal payments to students who first enrolled in masters, bachelors, or associates degree program at the University of Phoenix between October 15, 2012, and December 31, 2016; paid more than $5,000 with cash, grants, federal and private student loans, or military benefits; did not get debt cancellation as part of this settlement, and did not opt-out of the University of Phoenix providing the student’s contact information to the FTC.
People who get a refund via PayPal will have 30 days to accept the payment.
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