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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.
 


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