Online College Settles False Ad Charges For $191M

CNBC reports:

The University of Phoenix, which is owned by Apollo Education Group, has agreed to pay $191 million to settle charges that it falsely advertised close ties with major U.S. companies that could lead to jobs for students, the Federal Trade Commission said on Tuesday.

The University of Phoenix will pay $50 million to the FTC to return to consumers and cancel $141 million in student debt. Some of the advertisements targeted military and Hispanic students, the FTC said.

The FTC said the University of Phoenix had falsely advertised that it had a relationships with AT&T Inc, Yahoo!, Microsoft and Twitter which could lead to jobs for students. The advertisements also indicated falsely that big companies helped the school build a curriculum which could lead to jobs, the FTC said.