Item 7.01 Regulation FD Disclosure

On February 16, 2022, the U.S. Department of Education ("DOE") announced that it will discharge repayment of federal student loans for approximately 1,800 students who attended DeVry University ("DVU"). The 1,800 former DVU students were approved for relief through the "borrower defense to repayment" ("BDR") program.

As previously disclosed, pursuant to the terms of the Stock Purchase Agreement by and between Adtalem Global Education Inc. ("Adtalem") and Cogswell Education, LLC ("Cogswell"), dated as of December 4, 2017, as amended, Adtalem sold DVU to Cogswell and Adtalem agreed to indemnify DVU for certain losses up to $340,000,000 (the "Indemnification Cap"), including certain BDR claims.

Adtalem has previously disclosed DVU-related matters that have consumed a portion of the Indemnification Cap.

To Adtalem's knowledge, DVU has not been contacted by the DOE or received any specific information from the DOE on the cancelled federal student loans.

Adtalem does not have any specific information on how the DOE adjudicated the cancelled loans or whether any of the borrowers in question may have already been provided relief under prior settlements. Currently, the only information available to Adtalem is yesterday's announcement by the DOE.

Forward-Looking Statements

Certain statements contained in this Form 8-K are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact, which includes statements regarding the Company's future growth, the future impacts of the COVID-19 pandemic, the efficacy and distribution of the vaccines, the BDR program, Adtalem's indemnification of DVU, the expected synergies from the recent Walden acquisition, and the pending sale of the financial services segment, including our anticipated net proceeds and whether the pending sale will be completed in the anticipated timeframe, if at all. Forward-looking statements can also be identified by words such as "future," "believe," "expect," "anticipate," "estimate," "plan," "intend," "may," "will," "would," "could," "can," "continue," "preliminary," "range," and similar terms. These forward-looking statements are subject to risk and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include the risk factors described in Item 1A. "Risk Factors" of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) and our other filings with the SEC.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses