Proposed $248M settlement announced with multiple colleges over alleged deceptive financial aid tactics
Source: The Hill
04/01/24 10:36 AM ET
The Settlement Administrator Angeion Group announced Friday a proposed settlement with several U.S. colleges and universities over alleged deceptive tactics in giving out financial aid.
The preliminary proposal includes ten schools in one case and and 17 in a second. The schools include big names such as Yale University, John Hopkins University and the University of Pennsylvania.
The agreed settlement would have the schools paying $284 million to plaintiffs who were enrolled full-time in an undergraduate program at an institution and received financial aid between 2003 and 2024.
The lawsuit alleged the schools conspired to make formulas for financial aid, against antitrust laws, that resulted in students receiving a lower amount of support compared to if the schools didn’t conspire. The schools have argued the plaintiffs have no merit and denied the allegations.
Read more: https://thehill.com/homenews/education/4567395-settlement-dozens-schools-financial-aid/
Link to Angeion NEWS RELEASE - Settlement Administrator Angeion Group Announces Proposed Settlements with Brown University, University of Chicago, the Trustees of Columbia University in the City of New York, Trustees of Dartmouth College, Duke University, Emory University, Northwestern University, William Marsh Rice University, Vanderbilt University and Yale University in Henry, et al. v. Brown University, et al. Class Action
