8-K

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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                                    FORM 8-K

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                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

                                 Date of Report
                        (Date of earliest event reported)

                                 April 23, 2007

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                                   DEVRY INC.
             (Exact name of registrant as specified in its charter)

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        Delaware                     1-13988                   36-3150143
(State of incorporation)     (Commission File Number)        (IRS Employer
                                                           Identification No.)

       One Tower Lane, Suite 1000
       Oakbrook Terrace, Illinois                        60181
(Address of principal executive offices)               (Zip Code)

                                 (630) 571-7700
              (Registrant's telephone number, including area code)

                                       N/A
          (Former name or former address, if changed since last report)

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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_| Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))

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Item 8.01    Other Events.

On April 23, 2007, the Company announced that it had joined a number of other
colleges and universities across the country in adopting a new College Code of
Conduct established by the New York Attorney General's Office to ensure best
practices in student lending. Additionally, the Illinois Attorney General's
Office has joined with the New York Attorney General's Office in recognizing
DeVry University's adoption of the Code of Conduct.


Forward Looking Statements

         Certain information in this Form 8-K and the related press release may
be deemed to contain forward-looking statements within the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. All
statements other than those that are purely historical are forward-looking
statements. Words such as "expect," "anticipate," "believe," "estimate,"
"intend," "plan," and similar expressions also identify forward-looking
statements.
         Because these forward-looking statements involve risks and
uncertainties, there are important factors that could cause the Company's actual
results to differ materially from those in the forward-looking statements
including, without limitation, the risk that subsequent unanticipated events,
including unanticipated costs, may occur in connection with the Company's
adoption of the new College Code of Conduct. Additional information regarding
potential risks, uncertainties and other factors that could cause results to
differ are described more fully in Item 1A "Risk Factors" in the Company's
Annual Report on Form 10-K for the fiscal year ended June 30, 2006. Readers
should also consult the Company's Quarterly Report on Form 10-Q for the fiscal
quarter ended December 31, 2006.
         These forward-looking statements are based on information as of April
23, 2007, and the Company assumes no obligation to publicly update or revise its
forward-looking statements even if experience or future changes make it clear
that any projected results expressed or implied therein will not be realized.



Item 9.01    Financial Statements and Exhibits


99.1  Press Release dated April 23, 2007
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                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                           DEVRY INC.
                           (Registrant)

Date: April 23, 2007        By:  /s/ Richard M. Gunst
                                 ---------------------------------------
                                 Richard M. Gunst
                                 Senior Vice President, Chief Financial Officer
                                 and Treasurer









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                                  EXHIBIT INDEX



Exhibit Number          Description
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99.1                    Press Release dated April 23, 2007

EX-99.1

                                                                    EXHIBIT 99.1


DeVry University Adopts ''College Code of Conduct'' Regarding Student Loans

    OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--April 23, 2007--DeVry
University announced today that is has joined other academic
institutions in adopting a new College Code of Conduct established by
the New York Attorney General's Office to ensure best practices in
student lending. The Illinois Attorney General's Office has joined
with the New York Attorney General's Office in recognizing DeVry
University's adoption of the Code.

    The Code of Conduct is consistent with DeVry University's longtime
approach of serving as an advocate for students to help them find the
resources to pay for their education.

    "Our financial aid practices are guided by the overriding
principle of doing what's right for our students," said Daniel
Hamburger, president and CEO of DeVry Inc. "Our goal has always been
and continues to be to help students find the resources necessary to
finance their education to meet their individual needs."

    The New York Attorney General has focused on relationships between
higher education institutions and student loan providers designated as
"preferred lenders" by these institutions for their students.

    An internal DeVry University review prompted by a February inquiry
from the New York Attorney General's office determined that during the
2004-2005 academic year, DeVry University received $88,122 in
revenue-sharing fees associated with a single private loan program
from one of its preferred lenders at the time, Citibank. This private
loan program was distinct from the university's need-based financial
aid program. Citibank already was on the list of nine preferred
lenders at the time the revenue-sharing agreement was put into effect
and received no special consideration. DeVry has not accepted any fees
as a result of revenue-sharing agreements with other lenders.

    In adherence to the Code of Conduct and a settlement agreement
with the Attorneys General of New York and Illinois, DeVry University
will disburse $88,122 to borrowers who took out these private loans in
2004-2005 to help cover costs of their DeVry education at campuses
throughout the country. And under the new Code of Conduct, the
university will continue its current policy of not accepting fees from
lenders.

    DeVry also determined that in the past, preferred lenders have on
occasion paid expenses for its student finance staff to attend
seminars, training sessions and advisory board meetings. DeVry will
absorb such costs in the future in accordance with the Code of
Conduct.

    DeVry emphasized that no employee has received any form of
consideration from a lender such as stock, payments for consulting
work or honoraria for sitting on a lender advisory board.

    Further, under terms of the agreement signed with the New York and
Illinois Attorneys General, DeVry University does not admit, and
expressly denies, any wrongdoing.

    DeVry University maintains a preferred lender list as a service to
students and selects the lenders through open and competitive requests
for proposals. The preferred list helps students sort through an array
of loan offers they may receive. The university designates preferred
lenders based on their ability to provide services including the
following:

    - Competitive rates and terms for students

    - Access to and reliable delivery of both federal and private
funds

    - High-quality customer service.

    DeVry makes it clear to students that they are free to take out
loans from any lender, and encourages those with existing lender
relationships to continue them.

    "We agree with the goal of Attorneys General Andrew Cuomo and Lisa
Madigan of ensuring the integrity of the student loan industry, and
would further support our public officials in addressing overall
higher education access and affordability," commented Hamburger.
"Increasing student access and participation in higher education is
one of our nation's most critical challenges."

    In fiscal 2006, DeVry University disbursed more than $725 million
in financial aid funds to its students, an increase of more than 10
percent over the prior year. DeVry University is dedicated to helping
its students gain access to higher education by providing a number of
options for students to finance their education.

    About DeVry University

    As one of the largest degree-granting higher education systems in
North America, DeVry University and its Keller Graduate School of
Management provide high-quality, career-oriented associate, bachelor's
and master's degree programs in technology, healthcare technology,
business and management. More than 52,000 students are enrolled at its
84 locations in 24 states and Canada, as well as through DeVry
University Online. DeVry University is accredited by The Higher
Learning Commission and is a member of the North Central Association
(NCA). DeVry University, a division of DeVry Inc. (NYSE:DV), is based
in Oakbrook Terrace, Ill. For more information about DeVry University,
visit http://www.devry.edu.

    CONTACT: Media Contact:
             Jasculca Terman and Associates
             Bill Strong, 312-573-5474
             bill@jtpr.com
             or
             Investor Contact:
             DeVry University
             Director of Investor Relations
             Joan Bates, 630-574-1949
             jbates@devry.com