Trump reportedly working on $20 million settlement for Trump University lawsuit
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Trump reportedly working on $20 million settlement for Trump University lawsuit
Update, 2:17 p.m. PT: The New York Attorney General announced that the parties reached a settlement of $25 million.
Donald Trump may settle a lawsuit involving fraud allegations against Trump University, The Wall Street Journal reported today.
The settlement will range between $20 million to $25 million, unnamed sources told the newspaper. Trump’s lawyers are in talks over the settlement, so nothing has been finalized, but the agreement would also include Trump not admitting to any wrongdoing.
The issues around Trump University, a for-profit real estate program that shut down in 2015, plagued the president-elect’s throughout his election campaign. Students, who paid between $1,500 to $35,000 in fees, accused the school of misleading them.
For-profit education in general faced increasing regulatory scrutiny in the last year, culminating in the largest school closure in history and the largest accreditor of the sector losing its authority. But some in the industry see a change coming. For-profit education stocks got a post-election bounce with the hope that a Republican-controlled Congress would roll back some of those regulations.
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