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Article: IVY LEAGUE TO HALT MATCHING AID OFFERS.(Main)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- May 23, 1991
CopyrightCOPYRIGHT 1991 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Sharon LaFraniere Washington Post
The eight Ivy League universities agreed Wednesday to stop a 35-year practice of matching the amount of each other's financial aid offers to individual students, settling a Justice Department suit that claims the practice violates antitrust laws.
The consent decree prohibits yearly meetings at which school officials discussed financial aid offers to students, partly to avoid bidding wars for the most desirable applicants.
The discussions ensured that it would cost an applicant seeking financial aid virtually the same amount to attend any of the eight schools, thus illegally eliminating financial ...