One of this country’s largest for-profit college chains has agreed to a $49 million settlement after it was charged with misleading students. DeVry University will pay a total of $455,000 to eligible graduates in Massachusetts.
State Attorney General Maura Healey says the Illinois-based for-profit college chain used deceptive ads and lied to potential students about its graduation and job placement rates.
“For years, for-profit schools have tricked students into unaffordable loans with false promises of high earnings and job opportunities. Now, online programs like DeVry are following the same playbook,” Healey said in a statement. “We will continue to hold these institutions accountable for lying to students.”
DeVry doesn’t have any brick-and-mortar campuses in Massachusetts, but it does offer courses online.
Healey said DeVry claimed that 90 percent of its graduates found jobs within six months of graduation, but her office found the rate to be as low as 52 percent.
The cash refunds are part of a larger settlement that DeVry reached with the Federal Trade Commission.
In that settlement, DeVry also agreed to stop misrepresenting its employment data.