DeVry University's parent company is agreeing to settle allegations in New York that the for-profit school misled students about the job and salary statistics of its graduates.

In announcing a $2.75 million settlement in which DeVry neither admitted nor denied liability, New York Attorney General Eric Schneiderman said in a statement, "DeVry used misleading claims to lure in students who were simply seeking a college degree, greatly exaggerating job and salary prospects for graduates."

DeVry Group said it was "pleased this matter has been resolved, particularly as DeVry University implements recently announced student commitments and as we continue our focus on investments that directly support our students’ success."

Most of the settlement funds will be used to pay restitution to graduates.

DeVry had previously agreed to settle similar allegations brought by the Federal Trade Commission for $100 million.
The Federal Trade Commission has settled a case brought against operators of a Florida company that allegedly steered consumers seeking to apply for jobs to for-profit schools that paid the company for the "leads."

According to a report in Inside Higher Ed, the FTC alleged that consumers who provided the company,, with information typically provided for a job application were directed to call "employment specialists" who steered consumers to enrolling in education programs that paid the company for leads.

According to a news release, "The FTC alleges that these so-called advisers falsely claimed to be independent education advisers but in fact only recommended schools and programs that had agreed to pay the defendants, typically from $22 to $125, for consumer leads that met their enrollment requirements."

The FTC's agreement with Gigats calls for a payment of $360,000 and threatens collection of an additional $90 million if the payment is not made.