University of Chicago to pay $13.5m to settle ‘price-fixing cartel’ financial aid law

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BidenPresident

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The University of Chicago has agreed to pay $13.5m to students after settling a claim that it conspired with other universities to intentionally limit financial aid offers for students.

The suit argued that colleges within the group took advantage of an anti-trust exemption that allowed universities to create standards for granting financial aid packages if they were “need blind”.

Universities that used the exemption were not truly “need blind”, the complaint argued, and found ways to consider a prospective student’s wealth when making admissions decisions.

The suit alleges that universities “participated in a price-fixing cartel that [was] designed to reduce or eliminate financial aid as a locus of competition”.

https://www.theguardian.com/us-news...y-of-chicago-financial-aid-lawsuit-settlement
 
U. Chicago first to settle financial aid price-fixing claims in U.S. court

(Reuters) - The University of Chicago will become the first school among 17 prominent colleges to settle claims that they conspired for many years to restrict financial aid and overcharged students by billions of dollars in violation of U.S. antitrust law.

The preliminary settlement between the private liberal arts university and the plaintiffs was disclosed on Wednesday night in a court filing, and it was the first pact in the lawsuit since it was filed in the U.S. District Court for the Northern District of Illinois last year.

https://www.reuters.com/legal/litig...-aid-price-fixing-claims-us-court-2023-04-20/
 
BidenPresident said:
The University of Chicago has agreed to pay $13.5m to students after settling a claim that it conspired with other universities to intentionally limit financial aid offers for students.

The suit argued that colleges within the group took advantage of an anti-trust exemption that allowed universities to create standards for granting financial aid packages if they were “need blind”.

Universities that used the exemption were not truly “need blind”, the complaint argued, and found ways to consider a prospective student’s wealth when making admissions decisions.

The suit alleges that universities “participated in a price-fixing cartel that [was] designed to reduce or eliminate financial aid as a locus of competition”.

https://www.theguardian.com/us-news...y-of-chicago-financial-aid-lawsuit-settlement
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All universities are nothing more than over priced toilets that turn kids brains into mush. One saving grace for the university of Chicago however is that it was ranked #1 in the country for allowing free speech on campus according to FIRE.
 
Yakuda said:
All universities are nothing more than over priced toilets that turn kids brains into mush. One saving grace for the university of Chicago however is that it was ranked #1 in the country for allowing free speech on campus according to FIRE.
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you are an extremely stupid asshole
 
BidenPresident said:
you are an extremely stupid asshole
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That maybe but it doesn't change the fact that colleges and universities in America turn other right kids into mindless unthinking dimwits. Your post is evidence of that. Also the fact that a FIRE even has to address the lack of free speech at a supposed place of "learning" shows hoe fucked up colleges and universities have become. It should shock you but you're exactly the kind of misfit toy they pump out.
 
Yakuda said:
That maybe but it doesn't change the fact that colleges and universities in America turn other right kids into mindless unthinking dimwits. Your post is evidence of that. Also the fact that a FIRE even has to address the lack of free speech at a supposed place of "learning" shows hoe fucked up colleges and universities have become. It should shock you but you're exactly the kind of misfit toy they pump out.
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you are an extremely stupid asshole
 
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