UNITED STATES
                             Washington, D.C. 20549


                                    FORM 8-K


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

                                 Date of Report
                        (Date of earliest event reported)

                                October 17, 2007


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


        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)

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


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

|_|  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))


Item 7.01         Regulation FD Disclosure

         On October 17, 2007, the Company signed an agreement to acquire
Advanced Academics Inc. (AAI), a leading provider of online secondary education,
for $27.5 million in cash. Closing is expected to occur by October 31, 2007.

         Founded in 2000 and headquartered in Oklahoma City, Okla., AAI partners
with school districts to help more students graduate high school. AAI
supplements traditional classroom programs through Web-based course instruction
using highly qualified teachers and a proprietary technology platform
specifically designed for secondary education. AAI also operates virtual high
schools in 5 states. Since its inception, AAI has delivered online learning
programs to more than 15,000 students in more than 300 schools.

         The existing AAI management team will remain in place, and will report
to Steven Riehs, vice president and general manager of DeVry Online. The
financial results of AAI will be reported as part of the DeVry University

Forward Looking Statements

         This Form 8-K and the related press release 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 projected or implied by these
forward-looking statements. Additional information regarding factors that could
cause results to differ can be found in the Company's Annual Report on Form 10-K
for the fiscal year ended June 30, 2007.

         These forward-looking statements are based on information as of October
17, 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 October 17, 2007


      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.

Date: October 17, 2007
                                     By:   /s/ Richard M. Gunst
                                           Richard M. Gunst
                                           Senior Vice President,
                                           Chief Financial Officer and Treasurer

                                  EXHIBIT INDEX

Exhibit Number    Description
--------------    --------------------------------------------------------------
99.1              Press Release dated October 17, 2007