Don't know if it is factually true, but it sure feels true. They allowed me to finish the degree, but financial aid fell through in the last semester. So I have at least two student loans to pay on and a $7k back tuition before I can even get my Bachelor of Science Game and Simulation Programming Dissolving Toilet Paper Degree. Even told my wife I didn't know whether to bother framing it or wipe my butt on it. Though I have heard of two DeVry grads getting into EA (not that it is something to brag about considering EAs treatment of programmers in the past).
Sadly, this is completely true. Even a bachelor's from DeVry isn't really worth much of anything to employers from what I've been told.