DeVry Education To Lower Threshold On Federal Funding To 85% - Quick Facts

(RTTNews) - DeVry Education Group (DV), an education provider, said Tuesday that it will voluntarily limit the amount of revenue that each of its six Title IV institutions derive from federal funding to 85 percent. This includes Department of Veterans Affairs and military tuition assistance benefits.

The company noted that current federal regulations allow for-profit higher education institutions to derive 90 percent of their revenue from Title IV federal student aid. VA and other military tuition assistance benefits are not included in the 90 percent calculation.

Under the new plan, DeVry's institutions will receive no more than 85 percent of revenue from federal student aid, including VA and military benefits. DeVry commits to meeting the threshold by the end of its fiscal year in 2017, and will publicly report on this commitment annually. The company said it will continue to remain below that threshold in the future.

The 85/15 commitment is one of a larger set of institutional reforms DeVry is developing and believes will set a new standard in higher education.

DeVry said it is working with and seeking input from a variety of stakeholders on those commitments, which will be announced later this year.