University of Phoenix students to get $50 million in tuition refunds

Thousands of University of Phoenix students will split nearly $50 million in tuition refunds because they were allegedly lured into enrolling in the school by deceptive advertisements.

The Federal Trade Commission said the money will go to more than 147,000 Phoenix students who enrolled at the University of Phoenix between October 2012 and December 2016, paid more than $5,000 in tuition and continue to have student debt from attending the for-profit college. The $50 million is part of a larger $191 million lawsuit settlement the FTC announced more than a year ago. In the settlement, University of Phoenix then-parent company Apollo Education Group agreed to use $141 million in forgiving student loans. The remaining $50 million went directly to the FTC, and the commission is now passing that money to students.