TOP universities and colleges including Yale, Duke, and MIT, have agreed to a $284 million settlement.
The settlement resolves allegations of anticompetitive practices in financial aid distribution.
GettySeveral elite colleges have agreed to pay millions in settlements to students affected by an anticompetitive scheme[/caption]Payments will be distributed to students who were enrolled in at least one of the defendant universities’ full-time undergraduate programs.
Students must have received need-based financial aid to be eligible.
The settlement does not apply to those who did not have their tuition, fees, room, or board fully covered during specific class periods.
The class period spans from the Fall 2003 term to February 28, 2024 for students at UChicago, Columbia, Cornell, Duke, Georgetown, MIT, Northwestern, Notre Dame, Penn, Rice, Vanderbilt, and Yale.
For Brown, Dartmouth, and Emory students, it extends from Fall 2004 through February 28 2024.
The period runs from Fall 2019 through February 28, 2024 for CalTech students.
It covers Fall 2021 through February 28, 2024 for Johns Hopkins students.
The lawsuit claims that several top universities collaborated through the 568 Presidents Group to exchange financial aid information.
This strategy allegedly led to reduced aid for students and inflated attendance costs.
Although the universities deny any wrongdoing, they have agreed to a collective payout of $284 million to settle the case.
Under the terms of the settlement, eligible students will receive cash payments.
Amounts will be based on how much they spent on tuition, room and board, and the number of years they attended.
The deadline to opt out or object to the settlement is April 9, 2025.
The final approval hearing took place on June 20, 2025.
To claim a settlement payment, class members must submit a valid claim form.
If the settlement is approved by the court, it will finalize the claim process and set a deadline.
Claim forms will be available on the settlement website and can be requested by calling 1-833-585-3338.
Claims can be submitted online, via email, or by first-class mail.
Additionally, eligible class members will receive a mailed claim form if the claims administrator has a valid mailing address on file.
If the settlements receive court approval, the court will authorize the distribution of claim forms and establish a deadline for submission.
Read More Details
Finally We wish PressBee provided you with enough information of ( Americans to get direct payments from $284 million ‘aid’ settlement – but you must fit within four ‘periods’ )
Also on site :