More Ivy League universities settle suit alleging financial aid 'scheme' led to admitting wealthier students
T hree Ivy League universities, along with several other top-tier U.S. schools, have agreed to settle a case brought by a group alleging the institutions conspired to collectively consider how much financial aid to offer to students, allegedly favoring wealthier ones.
The largest settlements were agreed to by Columbia University and Duke University, at $24 million each. Alongside Brown, Yale and Emory universities and a prior settlement by the University of Chicago and a pending one with Vanderbilt University, a total of $118 million would be collected for the plaintiffs group suing the institutions.
The plaintiffs allege that the schools, and others targeted by the suit, have violated a statute barring them from considering students’ finances when they agreed in 2003 to a common set of standards to guide admissions decisions. While the schools were supposed to be "need blind" in order to adhere to the statute, any attempt to consider a student's financial-aid needs represents a de facto violation of that statute, the suit alleges.
The schools have denied wrongdoing, but have agreed to the settlements in exchange for having the case dismissed. The settlements must still be approved by a federal district judge.
The complaint alleges that more than 200,000 students would likely have been affected by the agreement, which they say served to artificially inflate net tuition prices.
More information about the suit and settlement can be found at https://568cartel.com/ .
LINK TO SEEDED ARTICLE: https://www.msn.com/en-us/money/careers/more-ivy-league-universities-settle-suit-alleging-financial-aid-scheme-led-to-admitting-wealthier-students/ar-BB1hcdRh?ocid=hpmsn&cvid=4eb850cfef674b5aa7afabdeddc5cb9f&ei=73
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The Ivy League is not having a good month. Now they have a scheme to allow in wealthier students.
Their endowments add up to billions.
the college scandal that sent a couple hollywood bimbos to the slammer for buying their kids degrees is just the tip of the iceberg. how do you think that idiot trump got his degree?
There isn't anything in common between those separate incidents. One is about universities colluding to maximize tuition collected and the other is about coaches lying to get kids admitted and receiving a fee for the service.
Daddy paid for it. I doubt if he can recall anything he actually learned
Some administrators were involved as were others, willing or unwilling they were part of it and it remains a mystery why these fake athletes were not discovered when they didn't show for the team or couldn't make the team.
If anything it goes to show that these pillars of education are at best suspect.
They can never have to much money. How needs poor kids that would require some school provided aid when there are more than enough wealthy kids that can pay the full rate.
Daddy's donations to the school were the driving force, Ivy League or not, it seems that their high and mighty moral and educational standing is suspect.
It seems to have been that way for sometime.