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Students Overpaid Elite Colleges $685 Million, 'Price-Fixing' Suit Says
A filing in an antitrust lawsuit against some of the nation's top universities alleges the schools overcharged students by $685 million in a "price-fixing" scheme, raising serious questions about their past admission and financial aid policies. From a report: Documents and testimony from officials a...
A filing in an antitrust lawsuit against some of the nation's top universities alleges the schools overcharged students by $685 million in a "price-fixing" scheme, raising serious questions about their past admission and financial aid policies. That "need-blind" policy allowed the schools to collaborate on financial aid under federal law, but plaintiffs in the case say the colleges violated the statute by considering students' family income. The claimed damages of $685 million, which were detailed in the court filing Monday night, would automatically triple to more than $2 billion under U.S. antitrust laws.
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