A federal judge rejected a motion by five universities, including Georgetown University, to end a financial aid collusion lawsuit and ruled that there was sufficient evidence to hold a trial in a Jan. 12 ruling.
Judge Matthew Kennelly of the U.S. District Court for the Northern District of Illinois ruled that the plaintiffs established sufficient evidence to bring the antitrust case to trial, rejecting the universities’ claims of immunity under the exemption and the statute of limitations. The lawsuit, filed in 2022 against 17 universities, alleges that the 568 Presidents Group, a group of universities including Georgetown that shared a financial aid formula, illegally colluded to use that formula, leading to price fixing and reducing the amount of financial aid for students.
Kennelly said the universities in the 568 Group shared a formula, called the “Consensus Approach,” to keep financial aid offers low and avoid a price war…