Top US Colleges Hit With New Antitrust Lawsuit Over Financial Aid

Forty elite private U.S. universities conspired to overcharge for tuition by including the assets of noncustodial parents in determining financial aid, students alleged in a new lawsuit. The proposed class action lawsuit, opens new tab, filed by a Boston University student and Cornell University alum, was filed on Monday night in Chicago against Northwestern, Harvard, Yale, Dartmouth, Cornell, Georgetown and dozens of other major schools. The nonprofit College Board, which developed the financial aid methodology that the schools allegedly use, was also named as a defendant. The students’ lawyers said there are at least 20,000 prospective class members who were harmed by the defendants' coordinated conduct.