Word: anti-trust
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...separate case, a federal judge ruled in late August that MIT had violated federal anti-trust laws in meeting with Ivy League schools to discuss the financial aid awards of students admitted to more than one of the schools. MIT is appealing the decision...
...League institutions had been banned from such discussions under the terms of a consent decree signed last fall in response to a Justice Department law suit accusing the colleges of violating anti-trust laws...
...statement from the Ivy League president said, "Our universities have long agreed to award our own financial aid funds to undergraduates only on the basis of demonstrated financial need. Last year we were obliged to suspend this agreement because the Department of Justice disputed its legality under the anti-trust laws. Now that the Higher Education Reauthorization Act has been signed into law, we plan to resume our financial aid agreement in the manner authorized by the new statute...
Witnesses also said that the MIT overlapmeetings do not constitute a violation of theSherman Anti-Trust Act as the U.S. Governmentcontends, because universities are non-profit,charitable institutions...
...midst of increasing public wariness of colleges' financial practices, the Justice Department last summer began an investigation into alleged anti-trust violations at 56 of the nation's top universities. The government is reportedly investigating whether colleges collude in setting tuition and financial aid packages...