University Of Phoenix To Cancel Student Loan Debt In Settlement

The University of Phoenix settled with the FTC over deceptive advertising allegations, agreeing to pay $50 million and cancel $141 million in student loan debt. The FTC claimed the university falsely advertised job opportunities with major companies and targeted specific demographics, including Hispanics and military personnel. The university stated these ads were from previous ownership but maintained they acted appropriately.

How much student loan debt would be canceled as part of the settlement?

What was the university's stance on the advertisements that were run under former ownership?