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The Guardian - US
The Guardian - US
World
Gloria Oladipo

University of Chicago to pay $13.5m to settle ‘price-fixing cartel’ financial aid lawsuit

University University of Chicago Financial Aid Lawsuit College Insider United States
University of Chicago.
University of Chicago. Lawsuit alleges that universities ‘participated in a price-fixing cartel designed to reduce or eliminate financial aid as a locus of competition’. Photograph: dbimages/Alamy

The University of Chicago has agreed to pay $13.5m to students after settling a claim that it conspired with other universities to intentionally limit financial aid offers for students.

The top-ranked university is one of 17 elite colleges that were accused of restricting financial aid packages for students, according to a federal lawsuit filed last year, Insider reported.

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