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Federal Trade Commission

FTC investigating online college University of Phoenix

The University of Phoenix, which runs an online college popular among military veterans, is under federal investigation for possible deceptive or unfair business practices, its parent company the Apollo Education Group told shareholders Wednesday. The for-profit, publicly traded company is the largest recipient of federal student aid for veterans and often a sponsor at military education and employment events. Since 2009, when the GI Bill expanded student aid benefits for veterans, the University of Phoenix online program has collected more than $488 million in tuition and fees for veterans — a figure that dwarfs nearly every other institution identified as a GI recipient by the...