Via the Washington Post by Daniel Douglas-Gabriel on December 10, 2019
The for-profit behemoth University of Phoenix will cancel millions of dollars in debt owed by students and pay restitution to resolve allegations of deceptive advertising, the Federal Trade Commission said Tuesday.
Phoenix must pay the FTC $50 million, which will be used to compensate former students. It must also forgo collection of about $141 million in debts owed directly to the school by people who attended between 2012 and 2016. Eligible borrowers will receive notification from the university, according to the commission.
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