|
|
Article: Ivy League Schools Agree to Halt Collaboration on Financial Aid
- Article from:
- The Washington Post
- Article date:
- May 23, 1991
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
|
The eight Ivy League universities agreed yesterday 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 charges 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 it would cost an applicant seeking
financial aid virtually the same amount to attend any of the eight
schools, thus illegally eliminating financial competition for
students, the Justice Department said.
The settlement also forces the schools to ...