Seventeen prestigious universities, including Cornell, Duke, and Yale, face allegations of colluding on financial aid decisions which artificially inflated the net price of attendance for students receiving need-based financial aid. This alleged violation of antitrust laws was reportedly facilitated by an antitrust exemption known as the "568 exception" from the Improving America's Schools Act of 1994. This exemption allowed universities to discuss financial aid formulas with each other and to consider students' financial need in admissions decisions. The class action lawsuit contends that this collusion led to less financial aid given than would have been awarded in a fair competition situation, resulting in reduced financial aid awards and higher net tuition prices for thousands of students and their families. The universities have denied these allegations, maintaining that their financial aid policies were legal and pro-competitive, and that financial aid awards were not manipulated. Yet, they have agreed to a class action settlement of $284 million, while not acknowledging any wrongdoing. The universities accused of anticompetitive conspiracy by limiting the amount of financial aid students received include Brown University, the University of Chicago, Columbia University, and more. The settlement alleges that these institutions collaborated through an organization called the "568 Presidents Group", sharing information and agreeing on financial aid rules to reduce competition and raise tuition prices. This case holds broad implications as it puts the spotlight on the practices of universities in regard to financial aid and tuition pricing. It questions the legality of the collaboration between universities under the "568 exception" and elicits a discussion about the transparency and fairness in awarding financial aid. Despite the denial from universities, the hefty settlement amount could potentially be a testament to the gravity of the allegations and might trigger a reconsideration of the existing exceptions and regulations in the field of financial aid. To qualify, you must have attended any of the following universities during the specified times: • Chicago, Columbia, Cornell, Duke, Georgetown, MIT, Northwestern, Notre Dame, Penn, Rice, Vanderbilt, Yale - from Fall 2003 to February 28, 2024 • Brown, Dartmouth, Emory - from Fall 2004 to February 28, 2024 • CalTech - from Fall 2019 to February 28, 2024 • Johns Hopkins - from Fall 2021 to February 28, 2024