University of Chicago Settles Aid Case for $13.5 Million (1)

The University of Chicago reached a tentative $13.5 million settlement with a group of current and former students in an antitrust case over an alleged financial aid scheme among more than a dozen top schools.

The deal, which was announced Monday and is subject to the approval of the US District Court for the Northern District of Illinois, would end the putative class action against the University of Chicago while the plaintiffs pursue claims against the remaining 16 universities, including Brown University, Columbia University, MIT, Yale University, and Northwestern University.

The students, and at least one parent, argue the schools ...