The suit was filed on behalf of five former students who attended three of the schools named in the proposed class-action lawsuit
Yale and more than a dozen of the country’s top universities are facing a federal lawsuit over allegations they violated antitrust laws by sharing a formula to calculate financial need that limited aid offers while favoring admission for wealthy applicants.Key Facts
The suit was filed late Sunday on behalf of five former students who attended three of the schools named in the proposed class-action lawsuit.to determine students’ financial need, which the suit argues limited aid by preventing competition to offer more generous aid packages. Under an antitrust exemption for schools, universities are permitted to work together on determining aid formulas as long as students are admitted on a need-blind basis, according to the filing.
However, the suit alleges that at least nine of the schools considered potential students’ ability to pay tuition in some admissions and waiting list decisions, which is prohibited for universities claiming the antitrust exemption. The lawsuit seeks unspecified damages and for the universities to stop working together to determine financial need.