The lawsuit alleges that the schools conspired to reduce financial aid and favor wealthy students. Specifically, the plaintiffs argue that Cornell and other universities worked together to ensure that financial aid pricing was similar between institutions. The section was an exemption to the Sherman Antitrust Act that allowed need-blind institutions to collaborate on financial aid principles to ensure financial aid was similar among universities. Many universities, including Yale, Duke and Columbia, have already agreed to settlements over allegations of financial aid misconduct, with total amounts currently reaching nearly $320 million. That suit instead alleged coordination of financial aid practices through the College Board’s College Service Scholarship Program.

Source: Daily Sun January 21, 2026 12:50 UTC