In today’s competitive world, obtaining a higher education is essential for a successful career. The United States is considered one of the most preferred destinations for higher education, attracting both domestic and international students. However, the cost of education in the US, especially at private universities, is prohibitive. Recently, it has come to light that some of these top private universities charge even more.
About forty prestigious private universities in the US are under scrutiny after a lawsuit alleges the institutions conspired to overcharge students for their education. Media reports indicate that the lawsuit, which includes major universities such as Harvard, YaleStanford and MIT, accused those schools of unfairly penalizing applicants from divorced or separated homes by considering the financial history of non-custodial parents when determining financial aid packages.
Those universities reportedly require students seeking non-federal financial aid to complete the CSS Profile, an application administered by the College Board, which also oversees SAT and Advanced Placement courses nationwide. This application requires students to disclose the financial assets of their non-custodial parents.
As USA Today reports, the lawsuit was filed by a Boston University student and former Cornell University students who claim that this requirement has reduced the amount of financial aid awarded to them, etc.
The suit seeks $5 million in monetary damages and an injunction to stop the alleged conspiracy. He also points to the College Board, the nonprofit organization that developed the financial aid methodology used by universities.
According to NBC News, the lawsuit alleges that the College Board’s methodology, which began including non-custodial parents’ financial information in 2006, did not take into account whether those parents would actually contribute to the student’s education. The law firm Hagens Berman, representing the case, argued that this resulted in tuition costs increasing by approximately $6,200 compared to top schools that do not participate in the College Board’s methodology.
The law firm also highlighted that it has become a “major factor” behind the rising cost of higher education in the US, as reported by USA Today.
“Those affected — mostly college applicants from divorced homes — could never have foreseen that this alleged scheme was in place, and students are left receiving less financial aid than they would have received in a fair market,” Hagens Berman said, according to USA Today .
In response to the lawsuit, the College Board said it is reviewing the allegations but is confident it will prevail on this matter. Some of the high-profile universities participating include Harvard University, Cornell University, Yale University, Columbia University, Dartmouth University, Brown University, University of Pennsylvania, Georgetown University, and Duke University.
Are you ready to lead with AI? Sign up now with GrowFast to transform your business strategy. Click here!
Harvard, Yale, MIT and other elite US institutions under fire: Lawsuit claims financial aid biased against students from divorced families – Times of India
