US elite universities agree to $284 million settlement with students
On July 20, 2024 the first payments began under a $284 million settlement that ten elite U.S. universities will make to current and former students who received need‑based financial aid.
The settlement stems from a 2022 antitrust lawsuit accusing the schools of colluding to limit such aid, which plaintiffs say pushed up costs for lower‑income students. While the universities denied the allegations, they agreed to resolve the case.
The institutions—Brown, University of Chicago, Columbia, Dartmouth, Duke, Emory, Northwestern, Vanderbilt, Rice and Yale—will provide an average of about $2,000 per eligible student. Payments are being processed through electronic services such as ACH, PayPal, Zelle and Venmo, with mailed checks expected by July 24.
Entities: Brown University · Columbia University · Duke University · University of Chicago · Yale University