University of Phoenix record settlement

The Federal Trade Commision (FTC) has reached a record settlement with the University of Phoenix to resolve charges that the school misrepresented graduation and employment rates for its students.

After the 2008 recession, the University of Phoenix (UOP) ran a marketing campaign called “Let’s Get to Work.” It touted the school’s partnerships with major employers like Microsoft, Twitter, Adobe, and Yahoo to create job opportunities for its graduates.

It claimed that AT&T, MGM, the American Red Cross and other organizations worked with UOP to develop courses tailored to their jobs.

The FTC said the claims weren’t true and UOP will pay $191 million in refunds and cancelation of student debts to settle the charges.


Link
https://amp.commercialappeal.com/amp/4836624002

 

All that money and none of it goes to me. So sad. Oh well, I don’t think this news surprises anyone. Phoenix is owned by who? I forget. What’s their net worth? Maybe 190 million is not that much.

 

As part of the $191 million settlement, the companies will return $50 million in cash to former students and cancel $141 million in student debt owed directly to the school. The proposed order prohibits the companies from further deceptive business practices. In addition, it requires them to ask consumer reporting agencies to delete the debts from people’s credit reports, give notice to those who got debt cancellation, and make sure people have access to their diplomas and transcripts.

Added on December 19, 2019: The FTC will identify people who are eligible for a payment from the $50 million University of Phoenix settlement with the FTC. You don’t have to apply or submit a claim to get a payment. If you would like to get email updates about this settlement, please sign up here.

Link
https://www.google.com/url?sa=t&source=web&rct=j&url=https://veteranseducationsuccess.org/s/Trident-ReportFINAL.pdf&ved=2ahUKEwjdypGo5OfnAhWFdt8KHd4-B4cQFjAAegQIBBAC&usg=AOvVaw1Hk1HrFXp2lyhoR_Yd_eBm

 

You must have first enrolled between October 2012 and December 2016 to qualify at all. If you do, only your loans owed to the school directly would be forgiven. USA Today notes that the settlement does not forgive federal or private student debt.

Link
https://www.studentloanplanner.com/university-of-phoenix-settlement-ftc/#FTC_University_of_Phoenix_Settlement_Does_Not_Include_Private_or_Federal_Student_Loans

 

Old news. Really, really old news.

UoP's annual revenues exceed $2 billion. I'm sure they can find this spare change between the sofa cushions.

 

I would like to sit upon this sofa, please. Just me and my empty duffle bag.

 

It might be old news, but how many folks who attended between 2012 - 2016 even know they may be eligible for a payment/refund? Shouldn't this board offer information on the topic?

 

No one is saying it isn't useful information. But we have discussed it on this forum before.

This is also a preaching to the choir sort of situation. The people here all keep a finger on the pulse of higher ed when it involves distance education. I have been getting non-stop ads for it just in my gmail account sidebar. I have to imagine that social media is even more prominent.

But, beyond that, we don't really have an obligation to inform the public of the well publicized things the media is already tending to. It's a discussion forum. And your topic, relevant as it may be, is one which has been discussed here before your arrival.