Word: aide
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Dates: during 1980-1989
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UNTIL now, university managers have crafted the strongest defense for a tangential element of the Justice investigation. They say the practice--particularly among an "overlap" group of 23 elite Northeastern colleges that includes Harvard--of sharing applicants' financial aid data serves the public by preventing "unethical bidding wars" for top students...
...legal argument works like this: While the 1890 Sherman Anti-Trust Act prohibits private corporations from colluding to set prices or any other business arrangement in private, exceptions apply in cases that serve the public interest. Universities contend that by agreeing on fair financial aid awards among themselves, they deliver more aid to more deserving students...
Possible inequities touch both consumers at the institutions and their competitors--for example, who is to decide that only 23 or 60 schools should share financial aid or financial information that might benefit all schools? On the flip side, many other schools not involved in these meetings essentially set their tuition levels from them, reasoning that higher price automatically generate greater prestige and more applicants...
...Schools could very well raise their prices to match those of other institutions without explicitly setting a price. In addition, there are many fixed costs that colleges must bear, such as competitive salaries for professors and making up for the appalling lack of federal funding for everything from financial aid to necessary research...
...only spouted rhetoric--it will simply demand an end to such practices without allowing for a new form of regulation. And an end to the "overlap group" and other such discussions among schools will mean an end to the practice of setting across-the-board financial aid levels according to need...