Payout: Varies
Proof Required: Yes
A class action settlement totaling $284 million has been reached involving seventeen universities. Ten major universities have agreed to the financial aid settlement, with the possibility of more institutions joining, potentially increasing the total fund. This lawsuit addresses the claims of students who received need-based financial aid but still incurred additional expenses while attending these universities.
The class action alleges that these universities colluded on financial aid decisions, violating antitrust laws. Key points include:
The $284 million settlement contends that elite U.S. universities violated federal laws by colluding on financial aid decisions, ultimately providing less support to students than they would have under competitive conditions.
The universities named in the class action deny the allegations, asserting that their financial aid policies were legal and competitive. The institutions involved include:
Settlements have been reached with several universities:
The class action alleges that the universities engaged in an anticompetitive conspiracy by limiting financial aid, leading to higher costs for students. The lawsuit claims they collaborated through the “568 Presidents Group,” sharing information and agreeing on financial aid policies to suppress competition and raise tuition prices, negatively impacting students and their families.
The universities have denied these price-fixing allegations, maintaining that their policies were lawful and aimed at promoting socio-economic diversity. They argue that the claims lack merit but have agreed to the settlement without admitting wrongdoing.
You may qualify for the settlement if you are a U.S. citizen or permanent resident who:
Eligibility periods for specific universities are as follows:
If you are unsure about your eligibility, you can contact the financial aid antitrust class action administrator for clarification.
Class members who submit valid claims will receive a portion of the $284 million settlement fund. The exact amount will depend on the costs incurred while attending one of the listed universities during the eligibility period.
It is anticipated that, assuming about half of the estimated 200,000 class members file claims, the average payout could be around $2,000. The specific amounts and distribution timeline will be determined once the court approves the settlement and the distribution plan. Any leftover funds will be donated to charitable organizations that support access to higher education for disadvantaged students and families.
You can submit a claim online using your unique Claim ID and Confirmation Code, which you may have received via email or mail. If you do not have a Claim ID, you can still file a claim. Documentation may be required to complete the claim form. The deadline for submitting claims is December 17, 2024.
Claim Form Website: www.FinancialAidAntitrustSettlement.com
Please be aware that your claim form will be rejected if it contains fraudulent information. By submitting your information and your sworn statement of its accuracy, you are agreeing to do so under penalty of perjury. Submitting false information not only jeopardizes your claim but also affects others who are genuinely eligible for the settlement. If you are uncertain about your eligibility for this class action settlement, please visit the class action administrator’s website for more information. Note that NoProofClassActions.org participates in the Amazon affiliate advertising program, and this post may include affiliate links, which could result in us earning a commission if you make a purchase through those links.