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Antitrust Suit Challenges Financial Aid Policies

By Net Assets posted 12 days ago


(From the Wall Street Journal) Sixteen major U.S. universities, including Yale University, Georgetown University and Northwestern University, are being sued for alleged antitrust violations. The colleges are members of the 568 Group, which consists of 21 colleges and universities that claim a federal exemption from antitrust laws in developing and using a common methodology to award need-based aid. The suit claims that nine of the schools are not actually need blind because for many years, they have found ways to consider some applicants’ ability to pay, and therefore shouldn’t be eligible for the antitrust exemption. Lawyers say more than 170,000 former undergraduate students who received partial financial aid at those schools going back up to 18 years could be eligible to join the suit as plaintiffs.

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