16 Elite Universities Colluded to Limit Financial Aid

Sixteen elite universities were sued in federal court late Sunday over an alleged price-fixing scheme in which plaintiffs say the schools formed a “cartel” to limit the amount of financial aid they would each offer to low- and middle-income prospective students—breaking antitrust laws.

Five students who previously attended some of the universities filed the federal lawsuit in Illinois, arguing that in defiance of legislation passed in the 1990s, at least some of the schools take families’ financial needs into account when making admissions decisions. The schools in question are part of a group called the “568 Presidents Group,” which was formed after Ivy League schools were charged with price-fixing in 1991 and is supposed to admit students on a “need-blind” basis.

After the schools were accused of colluding with their competitors to set a formula for determining how much financial aid was needed by families—driving up college costs for all

— source commondreams.org | Julia Conley | Jan 10, 2022

Nullius in verba


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s