|Type||For-Profit (NYSE: DV)|
|Location||Downers Grove, Illinois, United States|
|Campus||Multiple: 90+ United States, Canada, Brazil</td></tr>|
DeVry University is a division of DeVry Education Group, for-profit higher education organization that is also the parent organization for Keller Graduate School of Management, Ross University, American University of the Caribbean, Carrington College, Carrington College California, Chamberlain College of Nursing, Becker Professional Review, and DeVry Brasil. The school was founded in 1931 as DeForest Training School, and officially became DeVry University in 2002. As of 2014, DeVry had over 60,000 students across 90 campuses throughout North America and over the internet.
DeVry Education Group is headquartered in Downers Grove, Illinois, and Daniel Hamburger is the company's CEO. DeVry University is regionally accredited by the North Central Association of Colleges and Schools.
DeVry was founded in 1931 as DeForest Training School in Chicago, Illinois. School founder Herman A DeVry, who had previously invented a motion picture projector and produced educational and training films, named the school after his friend Lee de Forest. De Forest Training School originally taught movie projector and radio repair, but later expanded to other electronic equipment such as televisions. The school was renamed to DeVry Technical Institute in 1953 and gained accreditation to confer associate's degrees in electronics in 1957.
Bell & Howell completed its acquisition of DeVry Technical Institute in 1967. A year later, the company acquired the Ohio Institute of Technology and DeVry was renamed DeVry Institute of Technology. DeVry was accredited to confer bachelor’s degrees in electronics in 1969.
Keller Graduate School of ManagementEdit
Dennis Keller and Ronald Taylor met one another in the early 1970s when the two were teachers at DeVry. Keller and Taylor learned the economics of for-profit education while at DeVry and, in 1973, the two founded the Keller Graduate School of Management with $150,000 in loans from friends and family. The school was originally conceived as a day school that granted certificates. The Keller School later switched to an evening program focused on working adults and was offering MBAs by 1976. The school was fully accredited by the North Central Association of Colleges and Schools in 1977, the first for-profit school to be accredited by the body.
DeVry first received full accreditation in 1981. The Keller Graduate School of Management acquired DeVry from Bell & Howell in 1987. The leveraged buyout was worth $147.4 million. The two schools were combined as DeVry Inc. with Keller acting as chairman and CEO and Taylor president and COO.
DeVry Education GroupEdit
DeVry Inc. successfully completed its initial public offering in June 1991. The university acquired Becker CPA Review, a firm that prepared students for the Uniform Certified Public Accountant Examination, in 1996. DeVry acquired Ross University, a medical and veterinary school based in the Caribbean, for $310 million in 2003. The university moved into the nursing field in 2005 with the acquisition of Deaconess College of Nursing, a St. Louis, Missouri-based nursing college that conferred both associate's and bachelor's degress in nursing. Deaconess College of Nursing was later renamed Chamberlain College of Nursing.
DeVry Inc. entered Brazil with its 2009 acquisition of Fanor, Ruy Barbosa and ÁREA1, which are universities located in Northeast Brazil. In 2012, the university acquired Faculdade Boa Viagem and Faculdade do Vale do Ipojuca. DeVry acquired a sixth Brazilian university, Faculdade Differencial Integral, in 2013. DeVry Inc. was renamed DeVry Education Group later that year.
DeVry University's academic offerings are organized into 5 colleges: The College of Business & Management, which includes Keller Graduate School of Management; The College of Engineering & Information Sciences; The College of Health Sciences; The College of Liberal Arts & Sciences, which includes the School of Education; and The College of Media Arts & Technology. Each college offers associate's, bachelor's and master's degree programs. DeVry University also offers graduate certificates.
DeVry operates on a uniform academic calendar for both undergraduate and graduate degree programs. The university's academic calendar consists of six eight-week sessions. Most degree programs are offered at both the associate's and bachelor's level. In addition, the institution offers various certificate programs in specific subfields such as information technology.
The Keller Graduate School of Management offers the following masters degree programs:
As of 2012, DeVry had a total undergraduate enrollment of 59,474, 55.5% of which were male. 56% of DeVry students pursue bachelor's degrees. 76% of DeVry students are 25 years old or older and 46% of students are minorities.
Student activities, clubs, organizations and events are organized by individual DeVry campuses. Opportunities for students include professional organizations and honors societies. Former military personnel can join the DeVry Military Resource Club, which is designed to assist military veterans transition to civilian life and succeed academically. The DeVry Military Resource Club is a member of Student Veterans of America.
Notable DeVry University alumni include:
Notable Keller Graduate School of Management alumni include:
In 2011, DeVry University partnered with the United States Olympic Committee to become an official education provider for the United States' Olympic teams. The partnership runs through the 2016 Olympic season. 15 athletes on the United States' 2014 Olympic teams were DeVry University students.
In 1995, DeVry was suspended from Ontario's student loan program after a large number of its students misreported their income. DeVry was reinstated after paying fines of C$1.7 million and putting up a bond of C$2 million.
In November 2000, Afshin Zarinebaf, Ali Mousavi and another graduate of one of DeVry University's Chicago-area campuses filed a class-action lawsuit accusing DeVry of widespread deception, unlawful business practices and false advertising and alleging that students were not being prepared for high-tech jobs. The lawsuit contributed to a 20% slide in the company's stock. The class was not certified and the case was resolved for less than $25,000 in June 2006.
In 2001, DeVry became the first for-profit school to obtain permission from the Alberta government to grant degrees, on recommendation by the Private Colleges Accreditation Board. This decision was opposed by the Alberta New Democratic Party (sitting in opposition), the Canadian Federation of Students, and the Canadian Association of University Teachers. The NDP claimed conflict of interest as an executive at DeVry. served as both the president of DeVry's Calgary campus and as a member of the Premier of Alberta's special advisory council on postsecondary education.
In January 2002, Royal Gardner, a graduate of one of DeVry University's Los Angeles-area campuses, filed a class-action complaint against DeVry Inc. and DeVry University, Inc. on behalf of students in the post-baccalaureate degree program in Information Technology. The suit alleged that the nature of the program was misrepresented by the advertising. The lawsuit was dismissed and refiled. During the first quarter of 2004, a new complaint was filed in the same court by Gavino Teanio with the same general allegations. This action was stayed pending the outcome of the Gardner lawsuit. The lawsuits were being settled in late 2006.
In April 2007, the State of New York settled with three schools that were participating in questionable student-loan practices. DeVry, Career Education Corporation, and Washington University in St. Louis were involved with the settlement. DeVry agreed to refund $88,122 back to students.
In 2008, DeVry was accused of filing false claims and statements about recruitment pay and performance to the government.
In January 2013, a lawsuit was filed by a former manager at DeVry which alleged that the college bribed students for positive performance reviews and worked around federal regulations on for-profit colleges. In April 2013, the attorney generals of Illinois and Massachusetts issued subpoenas to DeVry to investigate for violations of federal law and filing false information about loans, grants, and guarantees. In July 2014, DeVry stated that the New York state attorney general's office was investigating if the company's marketing violated laws against false advertising.
Senator Tom Harkin's report on the for-profit college industry revealed that DeVry's tuition for an associates degree is 10 times higher than at community colleges; it has a dropout rate of 50 percent (60 percent for online students) within a median of 3 1/2 months; spending per student of less than $3,000 per year on education, about a quarter of what is spent by the University of Illinois; a CEO salary of $6.3 million, 46 times more than the president of the University of Illinois; and evidence of deceptive recruiting of students. Two state attorneys general, Illinois and Massachusetts, are investigating DeVry.