Conway announces $12.4 million settlement with Daymar

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LOUISVILLE, Ky. (AP) – Kentucky Attorney General Jack Conway has announced a $12.4 million settlement with a for-profit college his office sued.

The settlement involving Daymar College resolves years of litigation. Conway’s office said Thursday an estimated 12,294 former Daymar students are eligible for relief from the settlement stemming from the consumer-protection lawsuit.

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Conway says the settlement requires Daymar to pay $1.2 million that will be distributed to qualified students who attended Daymar between July 27, 2006, and July 27, 2011.

The amount will be prorated based on the number of terms students completed and the number of claims received.

Conway says Daymar will forgo collection of $11 million in debt owed it by former students.



Daymar has multiple Kentucky campuses. Daymar denied any wrongdoing in settling the lawsuit. An attorney for the school didn’t offer immediate comment.

 

Copyright 2015 The Associated Press.