The Federal Trade Commission announced today that it has settled with the University of Phoenix and its parent company, Apollo Education Group, for a record $191 million to resolve FTC charges that the school used deceptive advertisements that falsely touted their relationships and job opportunities with companies such as AT&T, Yahoo!, Microsoft, Twitter, and The American Red Cross. Under the settlement, University of Phoenix will pay $50 million and cancel $141 million in debts owed to the school by students who were harmed by the deceptive ads.
The FTC's press release, with links to the FTC's complaint and the settlement, is here. University of Phoenix's press release and other statements about the case are here.
