A class action lawsuit accuses Brown, Columbia, Cornell, Dartmouth, Georgetown, Penn, Rice, Yale and others of inflating their prices for financial aid recipients.
The suit alleges the conspiracy artificially inflated the cost of attendance for all students receiving financial aid and resulted in the overcharging of “over 170,000 financial-aid recipients by at least hundreds of millions of dollars.”
The lawsuit names Brown University, California Institute of Technology, University of Chicago, Columbia University, Cornell University, Dartmouth College, Duke University, Emory University, Georgetown University, Massachusetts Institute of Technology, Northwestern University, University of Notre Dame, University of Pennsylvania, Rice University, Vanderbilt University and Yale University as defendants.
In an email, Yale University spokesperson Karen N. Peart wrote, “Yale’s financial aid policy is 100% compliant with all applicable laws.” “Based on a preliminary review, the complaint against Brown has no merit and Brown is prepared to mount a strong effort to make this clear,” Clark wrote. The suit alleges “the purpose of the 568 Cartel is to reduce or eliminate competition between Cartel members over offers of financial aid to prospective students.”
The lawsuit also alleges that many of these colleges and universities are not fully need-blind, and thus, do not qualify for the antitrust exemption.
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