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University of Chicago to pay $13.5M to students for 'price-fixing cartel' (businessinsider.com)
43 points by resalisbury 1036 days ago
5 comments

Cartel members: UChicago, Columbia, Cornell, Duke, Georgetown, MIT, Northwestern, Notre Dame, Penn, Rice, Vanderbilt, and Yale.
Has nearly 19k students according to https://www.univstats.com/colleges/university-of-chicago/stu...

So that's about $700/person. Less if graduated students get comped too.

There is a need for the actual plaintiffs in cases like these to have a direct line to the public or at least media.

This settlement can’t possibly even make these folks whole, much less property disincentivize future abuse — but it’s probably a windfall for their attorneys.

Separately, one of the ~common posts on r/legaladvice is something like “My college awarded me a scholarship and applied it to tuition last year. This year they said it was a mistake and took it back.”

No grad students. No international students. Only students who received some financial aid, but less than the total cost of attendance.

On the other hand, it goes all the way back to students from 2003.

https://fingfx.thomsonreuters.com/gfx/legaldocs/jnpwwwwyypw/...

Presumably this is mostly undergrads. And as someone who works at UChicago, very not surprised...
> And as someone who works at UChicago, very not surprised...

Go on...

Wow I thought they are supposed to be good at Economics there.
They're great at economics. They made a ton of money off of it.

Apparently they're not great at covering things up, but that's not something they're supposed to teach in school.

Anyone can make a ton of money if they break the law and then get caught later, that doesn’t require being good at anything.
I wonder if universities would ever get RICO'd over stuff like this...It desperately needs to happen.
For the downvoter: its happened with grades at the primary/secondary level (again, over GRADES), why is it unreasonable to extend that to price-fixing at the post-secondary level? At least tell us all how I'm incorrect...At the end of the day, whether its still about money and prestige or both, it doesn't matter.