In this Nov 24, 2009, file photo, a University of Phoenix billboard is shown in Chandler, Ariz. The University of Phoenix for-profit college and its parent company will pay $50 million and cancel $141 million in student debt to settle allegations of deceptive advertisement brought by the Federal Trade Commission. (AP Photo/Matt York)

WASHINGTON (Reuters) - The University of Phoenix, which is owned by Apollo Education Group, has agreed to pay $191 million to settle charges that it falsely advertised close ties with major U.S. companies that could lead to jobs for students, the Federal Trade Commission said on Tuesday.

The University of Phoenix will pay $50 million to the FTC to return to consumers and cancel $141 million in student debt.

Some of the advertisements targeted military and Hispanic students, the FTC said.

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U.S. Marine Corps photo by Sgt. Bryan Nygaard

Come March 2017, the Marine Corps is temporarily ditching its iconic slogan “The Few, The Proud.” As part of a new advertising campaign, the military’s smallest branch is putting the long-running tagline on a hiatus, according to Marine Corps Times.

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