Top US universities settle for $166 million over favouring wealthy students
Students sit on the stairs as they return to the University of Pennsylvania
Four prestigious universities in the United States, namely Dartmouth, Northwestern, Rice, and Vanderbilt, have agreed to a combined settlement of $166 million to resolve allegations of favouring wealthy student applicants.
According to Reuters, this development marks a milestone in a federal antitrust lawsuit, bringing the total settlements to $284 million.
The lawsuit, filed in 2022, accused 17 renowned colleges and universities of breaching antitrust laws by considering students' financial backgrounds in admissions decisions, thus providing unfair advantages to affluent applicants.
According to legal representatives for the proposed class of current and former US students, the latest settlements were disclosed in a filing made in Chicago federal court on Friday.
The lawsuit highlighted the violation of a pledge by these institutions not to factor in students' financial statuses during the admissions process, resulting in an alleged bias towards wealthy candidates.
In response to the lawsuit, Dartmouth and Rice University have committed to paying $33.75 million each, while Northwestern University agreed to a settlement of $43.5 million, and Vanderbilt University will pay $55 million to resolve the claims against them.
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Previously, Brown, Yale, and Columbia universities reached settlements totalling $62 million.
Despite agreeing to the settlements, the universities, including those mentioned, have maintained their stance of denying any wrongdoing.
Statements released by Northwestern, Dartmouth, Vanderbilt, and Rice indicated that they wanted to put the legal proceedings behind them and refocus on their academic missions.
However, the case continues against seven other institutions, including Cornell University, the University of Pennsylvania, and Georgetown University.
Ted Normand, a lawyer representing the plaintiffs told Reuters, "These new settlements will significantly increase the compensation to the class members for the harm we allege the defendants’ cartel caused."
The average payouts expected for members of the affected class are approximately $750, as outlined in a court filing.
However, the finalisation of these settlements is contingent upon the judge's review and approval.
(With inputs from Reuters)