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.