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U of Phoenix agrees to $50M settlement over false ad claims

PHOENIX — The University of Phoenix for-profit college and its parent company will pay $50 million and cancel $141 million in student debt to settle alleg...
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PHOENIX — The University of Phoenix for-profit college and its parent company will pay $50 million and cancel $141 million in student debt to settle allegations of deceptive advertisement brought by the Federal Trade Commission.

The deal announced Tuesday settles a dispute over an ad campaign unrolled in 2012 touting partnerships with companies including Microsoft, Twitter and Adobe and suggesting the school worked with those companies to create job opportunities for students. Investigators found there was no such agreement.

The school says it believes it acted appropriately and agreed to the settlement “to avoid any further distraction from serving students.”