Five elite universities pay $104.5 million to settle price-fixing suit
Headline from UPI
Five elite U.S. universities agreed in a Tuesday court filing to pay a total of $104.5 million to settle a lawsuit accusing them price-fixing that harmed working and middle class students.
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Five elite U.S. universities agreed in a Tuesday court filing to pay a total of $104.5 million to settle a lawsuit accusing them price-fixing that harmed working and middle class students.
Five universities have agreed to pay $104.5 million to settle a lawsuit accusing them of violating an agreement to be “need-blind” when awarding financial aid.
Nearly half a dozen elite universities have agreed to pay a total of $104.5 million to resolve claims they conspired to limit financial aid for admitted students, according to a court filing.
Initially filed in January 2022, the suit accused 17 private universities of participating in “a price-fixing cartel” and colluded by fixing the size of financial aid packages.
Several elite universities accused in a federal lawsuit of conspiring to fix financial aid offers at the same low rates for students of humble means have settled out of court.
