DeVry University has settled with the U.S. government after being accused of misleading students with false job placement rates. The university is one of the nation’s largest for-profit institutions, and receives funding from the Department of Education. DeVry had advertised that 90% of its graduates had jobs within 6 months of graduation, but failed to provide evidence to support such claims. The Department of Education has instructed DeVry to stop using the unsubstantiated statistic, but has decided to not pull its funding. Other for-profit institutions such as ITT Tech and Corinthian were forced to shut down after being fined and losing their government funding after inflating their job placement numbers.
See "DeVry University gets slap on the wrist for job placement claims", Katie Lobosco, CNN Money, October 14, 2016