"Five Prestigious Universities Settle Financial Aid Lawsuits for $200 Million"

Northwestern University and three other private universities have agreed to settle a lawsuit for a total of $166 million, alleging that they violated antitrust laws by colluding on financial aid amounts for admitted students and favoring applicants from wealthier families. This settlement follows similar agreements by other universities, bringing the total settlement amount to $284 million. The lawsuit claims that 17 top universities failed to adhere to need-blind admission or colluded in setting financial aid awards, reducing price competition and disadvantaging students in need of financial aid. The universities deny wrongdoing but have agreed to settle.