The states alleged that CEC misled students about the transferability of credits and misrepresented the potential for students to obtain employment by failing to disclose that certain programs lacked necessary accreditation and by distorting graduation and job placement rates.
A total of 179,529 students across the nation who attended CEC schools will receive about $493.7 million in debt relief as part of the agreement between the for-profit college and Attorney General Dana Nessel, along with attorneys general from 47 other states.
Miller says 715 students in Iowa will receive the relief from the settlement, totaling at $1,424,662.
As part of compliance monitoring under the settlement, Career Education agreed to record all online chats and phone calls with prospective and current students.
In several consumer complaints to the Attorney General's Office, former CEC students reported that the company did not disclose that their credits could only transfer to other CEC schools. "This settlement gives North Carolina students who attended a CEC school the debt relief they need for a second chance to get a valuable education".
Career Education Corp., of Schaumburg, agreed to a settlement with attorneys general from 48 states and the District of Columbia to close an investigation that began in 2014.
CEC agrees to forgo all efforts to collect amounts owed by former students living in the states participating in the agreement that either attended a CEC institution that closed before January 1, or whose final day of attendance at American InterContinental University or Colorado Technical University occurred on or before December 31, 2013.
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The Illinois-based corporation agreed to pay $493.6 million to almost 175,000 students nationwide, after an investigation by the Washington State Attorney General and 47 other states found it used deceptive and misleading practices to attract students.
"As a result of this settlement, people that have outstanding student debt that was obtained through these specific universities will have that debt removed or relieved".
Former students with debt relief eligibility questions can contact CEC at 847-781-3600 or visit the CEC website.
It also mandates the establishment of a "risk-free trial period", mandatory orientation in study skills, and financial and computer literacy for some new students. For example, the company inaccurately claimed that its graduates were "placed" when they worked only temporarily or were working in unrelated jobs.
The company owned two physical locations in Washington, both located in Tukwila: a Sanford-Brown campus, previously known as the International Academy of Design and Technology, and a Le Cordon Bleu campus.
Almost 180,000 students who took classes offered at Career Education Corp.'s dozens of campuses over the past 30 years won't have to repay loans they took out with the company. All undergraduates who enter an online CEC program with fewer than 24 online credits shall be permitted to withdraw within 21 days of the beginning of the term without incurring any cost.