DeVry Education Group Expands Its Student Commitments
Wednesday, November 2, 2016
Posted by: Melinda Dorning
Reforms Build On Previously Announced Pledge to Lower Limit on Federal Funding and Military Benefits to 85 Percent of Revenue; End Mandatory Arbitration
DOWNERS GROVE, Ill. – Oct. 31, 2016 – DeVry Education Group (NYSE:DV), a leading global education provider, today announced the adoption of an expanded set of student commitments, including specific measures to promote responsible recruitment and enrollment, successful student outcomes, and informed student choice. These commitments build upon strong existing practices and take DeVry Group institutions above and beyond standard higher education policies and practices.
"DeVry Education Group is committed to finding solutions to the issues facing higher education," said Lisa Wardell, president and CEO of DeVry Education Group. “Students deserve greater transparency to make informed choices about their education. We also aim to provide all stakeholders with greater visibility into our student services, outcomes and financial stewardship. These student commitments build upon a solid foundation and bring DeVry Group to a new level of public accountability.”
DeVry Group’s "Student Commitments" can be accessed in full at viewpoints.devryeducationgroup.com/student-commitments. They include previously announced commitments to lower the limit on federal funding (including Department of Veterans Affairs and military tuition assistance benefits) to 85 percent of revenue at DeVry Education Group’s six Title IV institutions and to prohibit mandatory arbitration. Among the additional commitments released today are the following:
· Informed student choice: help students make informed decisions through a one-page disclosure that includes such metrics as total program costs, debt and default rates, completion and graduation rates, and earnings and licensure data.
· Financial literacy: provide proactive financial counseling in-person and via access to Manage My Loans, a dynamic online tool; and a new borrowing advisory notice. These tools will give students ongoing visibility into their financial position compared to their academic progress and credits required to graduate, among other measures.
· Recruitment and enrollment transparency: benchmark and disclose recruiting expenditures against national standards, transparency in the use of revenues for marketing, instruction and academic support, student services and scholarships; and recording of admissions conversations in order to ensure compliance with laws and regulations.
· Successful student outcomes: establish a chief education officer position, reporting to the DeVry Group CEO, who will advise and provide counsel to institutional provosts to improve student learning, persistence and graduation, and to develop actionable strategies to deal effectively with the issues of affordability and value.
“These commitments are living ideals and are part of an ongoing conversation we have with our students and other key stakeholders,” Wardell said. “We will review our Student Commitments annually, the goal always being to provide students the academic and institutional environment they need to succeed.”
About DeVry Education Group
DeVry Education Group empowers its students to achieve their educational and career goals. DeVry Education Group Inc. (NYSE: DV; member S&P MidCap 400 Index) is a leading global education provider and the parent organization of American University of the Caribbean School of Medicine, Becker Professional Education, Carrington College, Chamberlain College of Nursing, DeVry Brasil, DeVry University and its Keller Graduate School of Management, Ross University School of Medicine and Ross University School of Veterinary Medicine. For more information, please visit www.devryeducationgroup.com.