Proposed $248M settlement announced with multiple colleges over alleged deceptive financial aid tactics

The settlement administrator Angeion Group LLC announced a proposed settlement with several U.S. colleges and universities Friday over alleged deceptive tactics in giving out financial aid.

The preliminary proposal includes 10 schools in one case and and 17 in a second. The schools include Yale University, Johns Hopkins University and the University of Pennsylvania.

The lawsuit alleged the schools conspired to make formulas for financial aid that resulted in students receiving a lower amount of support compared to if the schools didn’t conspire, constituting a violation of antitrust laws.

Read more from The Hill.


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