FTC sends DeVry refund checks

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As part of its settlement with DeVry University, starting today, the FTC will mail 173,000 refund checks worth more than $49 million to some students who attended the school between 2008 and 2015. Checks will expire 60 days after they were mailed.

The FTC used DeVry’s records to identify the people who were eligible for refunds. To get a refund, a person must meet all four of these eligibility criteria:

  • enrolled for the first time in a bachelor’s or associate’s degree program at DeVry University between January 1, 2008 and October 1, 2015;
  • paid at least $5,000 with cash, loans or military benefits;
  • did not get debt or loan forgiveness as part of this settlement; and
  • completed at least one class credit.

The refund checks will come from Analytics Consulting, LLC. The FTC never requires you to pay a fee or give financial information to cash a refund check. If anyone tells you they’re from the FTC and asks for money, it’s a scam. If you are eligible for a refund and have questions about the refund process, contact Analytics Consulting, LLC at 844-578-2645.

Tagged with: college, refunds
Blog Topics: 
Money & Credit

Comments

DeVry University and Becker CPA Review rip-off others all the time. Great job FTC! At least someone caught DeVry Univ. Now please clean up it's nasty slime-ball subsidiary, Becker CPA Review. Becker CPA is just as BAD.

Keller as well. They gave me 183 dollars and they say since I had gov loans, they will not refund. I said FRAUD is FRAUD. I am working on getting my govt loans forgiven as well

What process are you going through to get your fed/gov loans forgiven?

I attended DeVry and they were facilitated the process of taking out federal loans through Navient, which I am still in debt for.

Bingo,

I just received a refund today as well. did u have to go through a lot to submit the loan forgiveness application?

Was your check from you attending Keller or DeVry?

How are you doing that because im trying to do that as well

How do you get loan forgiveness without paying a monthly fee. I get all kinds of calls about how they can help me with loan forgiveness. BUT i have to pay upfront.

Don't fall for the scams. If you need to pay upfront, it is a scam. A quick google search should help you differentiate between scams and the real thing. Consolidation is also free, don't be fooled.

studentaid.gov has all the forms and tells you how to do it. I applied for borrowers defense and did everything myself. You can even upload any documents you have to prove your dates and such.

How do they choose who gets a check and who gets their debt cleared? I got a check of $76 out of my 50k lol

The FTC settlement with DeVry required DeVry University to forgive and cancel the entire unpaid balance of all private student loans DeVry University made directly to students between September 1, 2008 and September 30, 2015. The settlement also required DeVry to cancel $20.25 million in debts certain eligible students owed to DeVry University for things like tuition, books and lab fees. If you were eligible for loan or debt forgiveness you should have gotten a letter or email from DeVry by the end of January, 2017.

 

The settlement also includes $49.4 million that the FTC is using to provide partial refunds to people who paid for DeVry classes. People who meet the four eligibility criteria listed at the top of this blog are getting checks with partial refunds.

Hello and thank you for this information. I am a former Devry student who took out private loans to pay for tuition books and such, during those years of attending Devry University...why did I not get debt forgiveness if I qualify...well I believe I should qualify at least. Please let me know how I can find out if I qualify or not and if not, I would like to know why please?! Thank you!

The FTC is not providing debt forgiveness. The FTC is providing partial refunds to eligible students.

Under the FTC settlement, DeVry provided debt and loan forgiveness to some students. The FTC settlement with DeVry required DeVry University to forgive and cancel the entire unpaid balance of all private student loans DeVry University made directly to students between September 1, 2008 and September 30, 2015. The settlement also required DeVry to cancel $20.25 million in debts certain eligible students owed to DeVry University for things like tuition, books and lab fees. If you were eligible for loan or debt forgiveness you should have gotten a letter or email from DeVry by the end of January, 2017. If you believe you qualify and you did not get a letter or email from DeVry you can contact DeVry.

I applied for a forbearance on my a Navient student loan in February. I was told it take a year to process.

Today I received a check from FTC for $408

I am awaiting BBB refund check as well.

I received a check for 391 dollars. It is insane, i friggin owe 71,000 dollars for a 2 year degree. I don't know how that is even possible. I know that i haven't been able to get employment for the 1st 3.5 years after graduating. These schools, FTC, everything that isn't for the people and by the people are nasty and immoral.

I got $493. This is absolutely ridiculous.

How is everyone doing out there on getting their federal loans forgiven?

Becker wants me to pay for the CPA review materials paid through my loan while I was a Devry.

how do i find out if i get a check from the settlement with devry university

There's a number you can call to find out if you get a refund or not. That's what I had to do.

call 844-578-2645 hit zero (0) immediately..

It's not a great job. The Settlement is so small it might pay one of my loan monthly bill.
Please file for a borrowers defense

Do you have any information for the borrower defense, and how to go about it

Go on /studentaid.ed.gov and look up borrowers defense. You have to fill out forms.

Go to studentaid.gov and there you can fill out an online form or download a printable version. Filed mine yesterday.

Do you have to qualify to apply??

You don't have to apply. If you qualify, you will receive a refund.

I haven't checked what im getting back yet but I filled out the borrower defense form I'm hoping the same so definitely fill it out it is lengthy but its not fair were stuck with these loans for basically an almost worthless degree.

Is the Borrower Defense a whole separate thing from this refund? I am just curious because I haven't heard of this before and don't want to have to waste my time if I don't have to.

Please read the letter that came with your check. It has more information for you.

I applied for Borrowers Defence in May of this year. Now I'm doing my best to get this stuff from DeVry off my credit report. I went from a 674 score to a 515 score in on month right when I applied for a home loan.

It's a slap in the face. The average check is only $280 but I have $54,000 in student loans :(

Yeah my government loans are over $60K and the refund they sent me wasn't even 1% of what I owe!! It's a damn joke the refund checks they are sending out!! I am going to have to research how to get this debt cleared up! I didn't even graduate so I'm still stuck in a dead end job and not even making it paycheck to paycheck!

I got $910 back and I didn't even know anything about this! I'm satisfied!

Did you have to do anything to opt-in to this settlement? I don't recall receiving anything in the mail before and just read about this today and I appear to meet all the criteria.

They are so vague about how the refund amount is calculated. can you advise if you graduated and roughly how much you paid? Just trying to get an idea of what they're factoring into the refund.

I received $477 yesterday and went crazy trying to confirm its legitimacy, but I deposited the check today.
In addition, I acquired both a Bachelors and a Masters degree from DeVry and Keller and have over $130K in loans to repay. If I am already in an program with Nelnet to repay these loans, will applying for Borrower Defense have any negative affects on my original repayment plan?

How did you deposit the check? Did you go to huntington bank or your bank in which you have account?

The amount of your partial refund is based on the amount of tuition you paid to DeVry during the relevant time period, minus any refunds, scholarships or grants (including Pell Grants) that you got during that time. This amount of tuition you paid might not be the same as the amount you borrowed in student loans. For example, you might have also borrowed money to pay for books, fees or living expenses.

Got my check today 189.23 I went to DeVry this may make one payment. I have some Perkins loans. Need to file for borrowers defense.

Can't wait for my big 200 dollars.. Less than 1% refund. I mean I paid over 50k but thanks ftc for wasting my time looking into this case and all... would have made more money than this refund if I didn't know about it

How do you know the value of your refund?

call the number, press 0 and they will tell you. Mine is a slap in the face compared to the $50,000 I dished out to go there. Just praying for borrowers defense to take care of it I guess.

I agree the amount being refunded is grossly underwhelming, but it's better than nothing. How did FTC action waste your time? You literally had to do nothing.

$200 dollars you got to be kidding?

there are two parts to this loan FTC for 100 million and that Attorney Generals office for 2.25 million

49.4 million / 173k = $28 not $200 :(

$285.55

It is $283.24 to be exact lol

Each person's percentage of completion will determine each person's percentage of the $49 million.

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