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University of Chicago to pay $13.5M to students for 'price-fixing cartel'
- toomuchtodo 3y agoCartel members: UChicago, Columbia, Cornell, Duke, Georgetown, MIT, Northwestern, Notre Dame, Penn, Rice, Vanderbilt, and Yale.
- superchroma 3y agoHas nearly 19k students according to https://www.univstats.com/colleges/university-of-chicago/student-population/ https://www.univstats.com/colleges/university-of-chicago/stu... So that's about $700/person. Less if graduated students get comped too.
- cozzyd 3y agoPresumably this is mostly undergrads. And as someone who works at UChicago, very not surprised...
- Melting_Harps 3y ago> And as someone who works at UChicago, very not surprised... Go on...
- tehwebguy 3y agoThere is a need for the actual plaintiffs in cases like these to have a direct line to the public or at least media. This settlement can’t possibly even make these folks whole, much less property disincentivize future abuse — but it’s probably a windfall for their attorneys. Separately, one of the ~common posts on r/legaladvice is something like “My college awarded me a scholarship and applied it to tuition last year. This year they said it was a mistake and took it back.”
- junar 3y agoNo grad students. No international students. Only students who received some financial aid, but less than the total cost of attendance. On the other hand, it goes all the way back to students from 2003. https://fingfx.thomsonreuters.com/gfx/legaldocs/jnpwwwwyypw/University%20of%20Chicago%20settlement%20--%202023-08-14.pdf#page=33 https://fingfx.thomsonreuters.com/gfx/legaldocs/jnpwwwwyypw/...
- archo 3y agohttps://archive.is/G9Jya https://archive.is/G9Jya
- Obscurity4340 3y agoI wonder if universities would ever get RICO'd over stuff like this...It desperately needs to happen.
- Obscurity4340 3y agoFor the downvoter: its happened with grades at the primary/secondary level (again, over GRADES), why is it unreasonable to extend that to price-fixing at the post-secondary level? At least tell us all how I'm incorrect...At the end of the day, whether its still about money and prestige or both, it doesn't matter.
- hippocombinator 3y agoWow I thought they are supposed to be good at Economics there.
- jfengel 3y agoThey're great at economics. They made a ton of money off of it. Apparently they're not great at covering things up, but that's not something they're supposed to teach in school.
- hippocombinator 3y agoAnyone can make a ton of money if they break the law and then get caught later, that doesn’t require being good at anything.