LEGAL/TRUMP U: “Thousands of former Trump University students will get most of their money back, with a judge on Friday approving a $25 million settlement.
‘The settlement is fair, adequate, and reasonable,’ Judge Gonzalo Curiel said in his decision.
Nearly 4,000 former students submitted claims and those who are eligible could get back about 90% of their money.
The settlement was agreed to last November, just 10 days after Donald Trump won the presidential election, but still needed court approval.
Trump University was created in 2005, and promised to teach students investing techniques they could use to get rich in real estate — just like Trump.
A ‘one-year apprenticeship’ at Trump University cost $1,495, according to court documents, while a ‘membership’ cost at least $10,000 and the ‘Gold Elite,’ the seminar’s most expensive class, cost $35,000.
Trump University effectively closed in 2010, the same year the New York Department of Education directed the program to stop operating without a license.”
-Drew Griffin and Curt Devine, “Trump University $25 million settlement approved,” CNN Money, CNN.com, March 31, 2017 12:58pm