Antitrust Suit Alleges 16 Elite Universities Colluded to Limit Financial Aid

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Antitrust Suit Alleges 16 Elite Universities Colluded to Limit Financial Aid
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'As a result of this conspiracy, the net price of attendance for financial-aid recipients at Defendants' schools has been artificially inflated.'

the lawsuit filed Sunday, Columbia University, Dartmouth College, Duke University, Georgetown University, the Massachusetts Institute of Technology , Northwestern University, Notre Dame University, the University of Pennsylvania, and Vanderbilt University all take financial needs into account.

"Nine defendants have thus made admissions decisions with regard to the financial circumstances of students and their families, thereby disfavoring students who need financial aid," the plaintiffs said in court filings. Seven other universities—Brown University, the California Institute of Technology, the University of Chicago, Cornell University, Emory University, Rice University, and Yale University—are also part of theSeveral of the schools—including Yale, Columbia, University of Pennsylvania, Notre Dame, and MIT—havein the country, ranging from more than $11 billion to more than $31 billion.

The schools—called the"568 Cartel" in the lawsuit—are accused of giving preferable treatment to the children of wealthy donors. The lawsuit cites an articlein 2019 in which university president Morton Schapiro acknowledged he personally gets involved in certain admissions decisions. Schapiro told the newspaper that applications of"legacy students [and] children whose family members have donated" to the school reach his desk.

Former students from lower- and middle-class backgrounds"might have student debt because of illegal collusion,"

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