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- Five more elite schools agreed to a settlement to resolve claims they colluded on financial aid.
- The 2022 lawsuit accused nearly 20 top schools of working in a “price-fixing cartel” to limit aid to students.
- They did not admit any wrongdoing, and current and former impacted students will receive cash payments.
Five more elite schools have now agreed to a settlement to put claims they colluded to limit financial aid to rest.
On Tuesday, Emory, Yale, Brown, Columbia, and Duke agreed to pay a collective fine of $104.5 million to resolve allegations against 17 top schools that concerned the way each of them allocated financial aid.
In January 2022, five former students who attended Duke, Northwestern, and Yale, filed a lawsuit against 17 elite schools over their participation in a group called the 568 Presidents Group, which allowed the schools to develop common standards for allocating financial aid.