The agreement, originally signed in 2011, will also see the company, established in Illinois in 1973, provide dedicated support staff and scholarship awards totaling $13.5 million (£9.4 million/€12 million) to American athletes at undergraduate and postgraduate level along with its Keller Graduate School of Management.

DeVry University, which has 55 locations across the country, were also integral in the launch of the USOC Athlete Career and Education Programme two years ago.

It helps current and retired US athletes with various education programmes and initiatives.

"DeVry’s partnership demonstrates a deep commitment to Team USA, providing athletes with the educational support and resources needed to help them achieve their goals away from the field of play, while striving for success on it," said Lisa Baird, USOC chief marketing officer.

"For the past five years, we have seen firsthand how DeVry University can positively impact the lives of Team USA athletes, and we are very happy that DeVry will remain in the USOC family of partners through 2020.”

The partnership between the USOC and DeVry Education Group has already seen 240 US Olympians and Paralympians enrol in associate, bachelor’s and master’s programmes in America and more than 125 students are currently enrolled at DeVry University and its Keller Graduate School of Management.

So far, 45 have managed to graduate.

"We at DeVry University are thrilled to extend our partnership with Team USA through 2020,” said Robert Paul, President of DeVry University.

“DeVry University students are known for their grit, perseverance and ambition - a great match for aspiring Olympic and Paralympic athletes.

"Whether a student is a Team USA athlete going for gold in Rio or a busy parent taking classes online at night to go for gold at work, DeVry can help them achieve their educational and career goals."