$284M university financial aid class action settlement

Universities, such as Duke, Penn and Yale, agreed to pay a combined $284 million in a financial aid settlement resolving anticompetitive allegations.

The settlement benefits students enrolled in one or more of the defendants’ full-time undergraduate programs and who received some need-based financial aid but whose tuition, fees, room or board were not fully covered by the financial aid during various class periods.

For Chicago, Columbia, Cornell, Duke, Georgetown, MIT, Northwestern, Notre Dame, Penn, Rice, Vanderbilt and Yale students, the class period is from Fall Term 2003 through Feb. 28, 2024.

For Brown, Dartmouth and Emory students, the class period is from Fall Term 2004 through Feb. 28, 2024.

For CalTech students, the class period is from Fall Term 2019 through Feb. 28, 2024.

For Johns Hopkins students, the class period is from Fall Term 2021 through Feb. 28, 2024.

Plaintiffs in the financial aid class action lawsuit claim numerous prestigious universities shared information about financial aid offers through the 568 Presidents Group. This anticompetitive scheme allegedly allowed the schools to limit the financial aid students received while inflating the costs of attendance.

The universities haven’t admitted any wrongdoing but agreed to pay a combined $284 million to resolve the class action lawsuit.

Under the terms of the financial aid settlement, class members will receive a cash payment based on the amount and number of years they paid for tuition, room and board

The deadline for exclusion and objection is April 9, 2025.

The final approval hearing for the settlement was held on June 20, 2025.

To receive university financial aid settlement benefits, class members must submit a valid claim form. If the court approves the settlement at the final approval hearing, it will also approve a claim form and establish a deadline for settlement class members to submit claims. To receive a payment, you must submit a claim form at that time. The claim form will be available on the settlement website and can also be requested by calling the toll-free number 1-833-585-3338. Settlement class members may submit claims electronically through the settlement website, via email, or by first-class mail. Additionally, a claim form will be mailed to settlement class members for whom the claims administrator has valid and current addresses.

Who’s Eligible

Students enrolled in one or more of the defendants’ full-time undergraduate programs and who received some need-based financial aid but whose tuition, fees, room or board were not fully covered by the financial aid during the following class periods:

• For Chicago, Columbia, Cornell, Duke, Georgetown, MIT, Northwestern, Notre Dame, Penn, Rice, Vanderbilt and Yale students, the class period is from Fall Term 2003 through Feb. 28, 2024
  
• For Brown, Dartmouth and Emory students, the class period is from Fall Term 2004 through Feb. 28, 2024
  
• For CalTech students, the class period is from Fall Term 2019 through Febr. 28, 2024.
  
• For Johns Hopkins students, the class period is from Fall Term 2021 through Feb. 28, 2024
  

Potential Award

Varies

Proof of Purchase

Academic information

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

TBD – If the settlements are approved, the court will approve the distribution of claim forms and set a claim form deadline.

Case Name

Henry, et al. v. Brown University, et al., Case No. 1:22-cv-00125, in the U.S. District Court for the Northern District of Illinois

Final Hearing

06/20/2025

Settlement Website

FinancialAidAntitrustSettlement.com

Claims Administrator

Financial Aid Antitrust Settlement
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
[email protected]
833-585-3338

Class Counsel

Robert D Gilbert
Elpidio Villarreal
Robert S Raymar
GILBERT LITIGATORS & COUNSELORS PC

Eric L Cramer
Caitlin G Coslett
Ellen Noteware
Hope Brinn
Richard Schwartz
Daniel J Walker
Robert E Litan
BERGER MONTAGUE PC

Devin “Vel” Freedman
Edward J Normand
FREEDMAN NORMAND FRIEDLAND LLP

Defense Counsel

James L Cooper
Michael Rubin
ARNOLD & PORTER

Karen Hoffman Lent
Amy L Van Gelder
SKADDEN ARPS SLATE MEAGHER & FLOM LLP

Douglas E Litvack
Ishan Bhabha
JENNER & BLOCK LLP

Christopher D Dusseault
GIBSON DUNN & CRUTCHER LLP

Tina M Tabacchi
Christopher A Hall
Craig A Waldman
Christopher N Thatch
JONES DAY

Scott D Stein
SIDLEY AUSTIN LLP

Norman Armstrong Jr
KIRKLAND & ELLIS LLP

J Mark Gidley
WHITE & CASE LLP

Charles Loughlin
Benjamin Holt
HOGAN LOVELLS US LLP