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‘Cartel’ at elite universities

America’s finest universities have been accused of forming a ‘‘price-fixing cartel’’ to overcharge 170,000 students eligible for financial aid. The allegations, in a lawsuit, threaten to do even more reputational damage to the institutions than the 2019 college admissions scandal, when wealthy parents were found to have paid bribes to secure places for their children. The lawsuit, filed by five former students in federal court in Illinois, accuses 16 universities, including six of the eight in the Ivy League, of overcharging by hundreds of millions of dollars over two decades. The class-action lawsuit alleges the universities colluded to raise the net price of attendance. It seeks unspecified damages for recipients of financial aid who have attended the universities since 2003.

World

en-nz

2022-01-16T08:00:00.0000000Z

2022-01-16T08:00:00.0000000Z

https://fairfaxmedia.pressreader.com/article/282896618986989

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