67 Vermonters to benefit from for-profit college settlement
MONTPELIER, VT. >> Attorney General William Sorrell says 67 Vermont residents will get a share of a national settlement against a company that operates for-profit colleges.
Vermont joined Monday with 38 other states in the settlement with Education Management Corporation.
The Vermont students will get a combined $60,000 in loan forgiveness from the company.
The Pittsburgh-based company runs 110 schools in 32 states and Canada for chefs, artists and others, including Argosy University, The Art Institutes, Brown Mackie College and South University.
The company was accused of misrepresenting job placement and graduation rates, using high pressure sales tactics, and misleading prospective students about costs.
The company denied wrongdoing, but said it is working to bring more transparency to its recruitment practices.
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