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Federal law allows schools to collaborate on their formulas for determining the amount of financial aid to award students, but they are not allowed to consider an applicant’s need for aid when determining whether to accept their application to become a student. A recent class-action lawsuit against 16 major U.S. universities alleges that, not only were the universities collaborating on their financial aid formulas, but that they did so in order to fix their prices,… Continue Reading Federal Financial Aid Class Action Lawsuit Accuses Top Universities of Price Fixing