If you’re a student in one of the most elite universities in the US there is good news. You must have heard the news where some of the top universities in the country colluded together in order to limit the need based financial aid. This anticompetitive practice has led to many students paying extra tuition money.
$284M University Financial Aid Class Action Settlement 2025
The lawsuit against these universities has resulted in a $284 Million Class Action Settlement. The students from big universities such as Yale, Duke, MIT, and others will now be able to get some relief. So if you’re someone who has done schooling from here then you might be entitled to a portion of this settlement.
University Financial Aid Class Action Payout – Overview
| Article Name | $284M University Financial Aid Class Action Settlement |
| Total Fund | $284 million |
| Max Payout Per Person | Vary on individual basis |
| Country | USA |
| Website | financialaidantitrustsettlement.com |
Background of $284M University Financial Aid Class Action Settlement
If we were to talk about the root cause of the settlement it arises when dozens of elite universities colluded together in order to limit the financial aid offers. The universities by doing so directly violated the federal antitrust laws. These schools allegedly came together under the 568 Presidents Group and shared a common formula in order to calculate the need-based aid. Now the original goal of this group was to standardize the aid calculation process across its members. However, they used it to suppress the competitive financial offers and increase the tuition costs. The universities included in this lawsuit are:
- Duke
- Yale
- MIT
- University of Pennsylvania (Penn)
- Columbia
- Cornell
- Notre Dame
- Georgetown
- Northwestern
- University of Chicago
- Rice
- Vanderbilt
- Brown
- Dartmouth
- Emory
- CalTech
- Johns Hopkins
The schools denied any wrongdoings and they decided to settle this case for a sizable amount of $284 Million in order to avoid a lengthy legal battle.
Eligibility for Financial Aid Class Action Settlement
In order to receive the portion of the settlement through the $284 Million Class Action Settlement there are some eligibility criteria that one needs to fulfil.
- First the individual must be enrolled in a full-time undergraduate program in any one or more universities present in this case. Moreover, there is also a specific time period during which they should have enrolled.
- The second criteria to fulfil in order to be eligible for the settlement is that an individual must be receiving the need based financial aid. However, their total cost of boarding, fees, room and tuition shouldn’t be covered.
Class Periods by University:
- Fall 2003 – Feb. 28, 2024: University of Chicago, Columbia, Cornell, Duke, Georgetown, MIT, Northwestern, Notre Dame, Penn, Rice, Vanderbilt, Yale
- Fall 2004 – Feb. 28, 2024: Brown, Dartmouth, Emory
- Fall 2019 – Feb. 28, 2024: CalTech
- Fall 2021 – Feb. 28, 2024: Johns Hopkins
So if you’re someone who has done college from these universities and you fulfil the above mentioned criterias then you are eligible to file the claim.
$284 Million University Financial Aid Settlement Individual Payout
There is no fixed settlement amount that you will receive from this settlement. There are few factors based on which your final amount will be decided.
- The first thing that’ll be considered is the number of semesters that you have attended in any one of the participating universities during the mentioned period.
- Secondly your amount will be decided based on the portion of tuition, fees, room, and board that was not covered by the need based aid.
- Lastly the payout will be decided on the total number of valid claims that were filed.
Now that the final amount is based on the above factors mentioned, then individual amounts can vary a great length. As per the estimates from our experts the individual payment can range anywhere between hundreds to several thousand dollars per qualifying individual.
University Financial Aid $284 Million Class Action Settlement Application Process
There is a claim process that you need to follow in order to get your portion of the settlement. Once the settlement is approved by the courts the payment will come based on the submitted claim form. Here’s what you can do:
- The final hearing for this settlement will take place on June 20, 2025. So if the settlement is approved then you can go for further process.
- Next you’ll need to go to the official claim website in order to find the claim form. You can also request the claim by calling on this phone number: 1-833-585-3338.
- Once you have the claim form you can submit it through three ways, either through official website, email or through postal mail.
- With your claim form you’ll also need to provide necessary documents such as academic history and financial aid records.
The claim form should only be submitted by an eligible individual. Filing a fake claim amounts to perjury and will attract legal altercations.
University Financial Aid Class Action Settlement Payment Status
Currently, not the courts and not the universities have announced the last date to file the claim. As the final approval for this settlement remains pending it is safe to assume that there is still a lot of time for payment to come. Moreover, Even after the approval it would still take significant time in order to verify and process your claim. The whole ordeal can take up to several months. In meantime the eligible claimants are advised to
- Monitor their emails and the settlement website for updates.
- Make sure the claims administrator has your current and accurate mailing address.
Important Updates Regarding University Financial Aid Class Action Settlement
- The final hearing for the approval of settlement is going to take place on June 20, 2025.
- The deadline to opt out of the settlement ended on April 9, 2025.
- The court is currently in the process of reviewing the whole settlement terms.
So this was all the information we had on the $284 Million University Financial Aid Class Action Settlement. This case marks a significant milestone when it comes to the students who paid inflated tuition costs due to anticompetitive practices from the universities. Soon some new updates will come so make sure to look out the official settlement website.
| Official Website | Click Here |
| Homepage | Click Here |