N.Y. Attorney General Settles Lawsuit With DeVry

New York Attorney General Eric Schneiderman's office announced a more than $2.25 million settlement with DeVry Education Group. 

The state sued the for-profit institution after an investigation revealed Devry lured students with ads that exaggerated graduates' success in finding employment at graduation and contained inadequately substantiated claims about graduates' salary success. As part of the settlement, DeVry has agreed to pay $2.25 million in consumer restitution and $500,000 in penalties, fees and costs. 

"DeVry used misleading claims to lure in students who were simply seeking a college degree, greatly exaggerating job and salary prospects for graduates," Schneiderman said, in a news release. "I'm pleased that this settlement provides much-desired restitution to students who were misled and requires DeVry to stop its false advertising." 

DeVry reached a similar settlement with the U.S. Federal Trade commission regarding advertising practices in December.