University of Chicago settles ‘price-fixing’ case in which Penn remains a defendant

“We typically don’t offer comment on litigation,” said Penn spokesperson Ron Ozio.in January 2022 by several former students who attended Duke, Northwestern, and Vanderbilt. In the lawsuit, students accused the colleges of participating in a “price-fixing cartel” that was “designed to reduce or eliminate financial aid as a locus of competition.

The colleges were part of the 568 Presidents Group, which worked together to set standards for distributing financial aid. Penn joined the group in 1998 and withdrew in 2020, according to the lawsuit. The schools claimed an antitrust exemption, but that would only be permitted if they were “need blind,” meaning they did not consider a students’ financial ability to pay tuition.

Some of the colleges, including Penn, have maintained “admissions systems that favor the children of wealthy or potential future donors,” the suit said.

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