DeVry University to pay $2.5 million in NY settlement

NEW YORK (AP) - New York's attorney general says DeVry University will pay $2.25 million following allegations that it exaggerated graduates' job and salary prospects.

Eric Schneiderman (SHNEYE'-dur-muhn) said Tuesday that a settlement also requires the school - which operates locally as DeVry College of New York - to pay $500,000 in penalties and fees.

Graduates eligible for the claims process will receive a form by mail.

The Downers Grove, Illinois-based DeVry Education Group says it's pleased to resolve the matter. DeVry says it's committed to being publicly accountable and to students' success.

In December, DeVry settled a Federal Trade Commission lawsuit. It agreed to pay $49 million to students allegedly harmed by advertising and to forgive $50 million in debt.

Schneiderman's office said New York graduates could be eligible for both settlements.