The DeVry lawsuit is a legal battle leveled against DeVry University for publishing ads that misinformed the student population. Per the ruling of the DeVry student loan lawsuit, the university will refund $100 million to borrowing students, according to the Federal Trade Commission (FTC).
These refunds will cost multiple thousands of borrowers who attended the university anytime between the years of 2008 to 2015. Under the DeVry lawsuit, students will either receive loan discharge or cash.
According to the FTC, the university intentionally exaggerated job opportunity figures and earning potentials of student graduates. These misleading claims aired in DeVry’s online, radio, print and TV ads. In some of the ads, the university claimed since 1975, 90% of all students landed field-specific jobs after leaving school for no more than six months.
The Department of Education (DOE) investigated these claims. Later, it was found out that the school couldn’t back these claims with facts. DOE has since banned the school from any such unsubstantiated claims.
Then FTC proceeded with a DeVry student loan lawsuit against the University in 2015. At the time, the university decided to denounce these allegations. Though DeVry is yet to admit any wrongdoings, the institution has expressed being “pleased” with the resolution of the matter, as stated above.
Implications for Borrowers
If you’ve paid any attention to the news in 2018, you might have noticed the announcement made by the Department of Education on 13th December 2018. In this announcement, people concerned with the DeVry Lawsuit got the news that the Department disclosed the approval of $150,000 towards the borrower’s defense discharge program.
Through this intervention, borrowers could recover some funds caught in arbitration. Hence, if you have a particular interest in the DeVry Lawsuit because you’re a DeVry borrower, the news could spell good fortunes for you. However, you need to note that the Department of Education (DOE) has been notifying qualified borrowers since 14th December of the same year.
Therefore, if you meet the requirements for the discharge program, you should see your debts forgiven about one to three months after this repayment discharge takes effect. In case you’re one of the students who’ve already put forward your application, you might want to keep an eye out for an email.
Other student stakeholders in the DeVry Lawsuit who are yet to submit their application should consider doing so today. Doing so will significantly increase your chances of getting it approved sooner, rather than later. Mind you, it all depends on the round of approval within which you apply.
Rounds of Refunds in DeVry Lawsuit
By May last year, tens of thousands of DeVry graduates have received refund checks in two distinct DeVry Student Loan Forgiveness Program. July 2017 saw the sending out of the first round of funding.
The total amount reached the amount of $49 million for debt relief. And a total of 173,000 borrowers benefited. When you look at the percentage, it amounted to $280 for each student.
Then refunds were issued again in May 2019. This time, there were cheques for only 130,000 former students of the university. The total sum covered in this second round of funding was $9.4 million. If you do the calculations, this means an average of $70 went to each recipient.
A refund is always a good thing. However, one can argue how much this amount of money can do for any recipient. It’s hard to imagine the difference it will make in their lives. Hence, we strongly suggest you make sure accepting this amount doesn’t jeopardize your eligibility for TOTAL forgiveness through the Borrower’s Defence to Repayment Program.
As such, we aren’t against the receipt of the refund. Instead, we only entreat you to carefully read through any instructions related to the Borrower’s Defense to Repayment Program.
In the rest of the page, we’ll cover what you have to do if you meet the requirements to receive a check due to the DeVry lawsuit. We’ll also look at other possible options for those who do not qualify. So buckle your seat belts because you’re about to find out what you’ll do to get your hand on that cheque.
Forms of The DeVry Loan Forgiveness
The DeVry lawsuit resulted in two different student loan forgiveness programs for former students of the university. These two including:
- The Borrowers Defense Devry Repayment Discharges. You have to be ready for ample work if you intend to enjoy the benefits of this program. However, once you get through, you stand a chance to clear your entire federal student loan debt. In addition to this, you also get refunds for all the previous payments you made.
- This is the settlement between the FTC and DeVry University. These sent out cheques of about $280 and $70 to each borrower in both rounds of funding, respectively.
It’s undeniable that qualifying for BDD is way better and more favorable for your long term finances. Nevertheless, the news headlines of recent years suggest that the FTC settlement is also a big deal. Despite the fact that beneficiaries only get $350 to cover their student debts.
Would you accept $350 if I offered it to you free of charge? Your guess is as good as ours. But you can’t possibly compare the two programs. In a perfect universe, you could get the best of the two worlds. You receive the funds from the FTC settlement and obtain approval for BDD.
How to File a DeVry Borrower’s Defense Claim150
If you decide to pursue a Borrower’s Defense Claim, your former university, there is one important fact you need not forget. The procedure for getting this approval is to bind the recipient legally. Therefore, to lie will be perjury. And your post won’t dive into the consequences of lying.
Also, you don’t have to abuse the system and process. It’s better to leave the application to an individual who honestly deserves it. That’s if you can identify that you don’t deserve for one reason or the other.
Many succumb to the temptation to lie about the circumstances surrounding their enrollment in DeVry. However, many forget that the authorities might remove the program entirely if enough of cases of dishonesty keeps coming up.
Having said that, you need to note that your claim against DeVry needs to clearly state how they’ve wrong you. It has to show beyond reasonable doubts that the school conducted itself in an illegal manner regarding your application and enrollment. Hence, your decision to borrow from the university was based on illegal activity on the part of DeVry.
It is only after doing this that your borrowers defense DeVry application will be seriously considered and approved. Usually, most students cite their misleading job placement or salary figures.
Where to file Your BDD Application
The official U.S. government’s web page for BDD is the only place you can successfully file your application against DeVry University. You can check out the portal here.
Students will have themselves to blame if they file your claim with another third-party site or entity. You want to abstain from this, especially if you charge you any amount of money for their service. It doesn’t matter how small or large the sum. These entities are usually student loan scammers looking to prey on unsuspecting borrowers.
Remember, you don’t have to hesitate about reaching out to us when you need any help related to your student loan debt. We are just a dial or email away. Also, you can post your questions on the DeVry lawsuit in the comments sections, and student finance and student loan expert will answer you shortly.