Price Fixing among Elite Colleges and Universities
The University of Chicago Law Review
On May 22, 1991, the Department of Justice filed a complaint against the eight Ivy League schools and the Massachusetts Institute of Technology alleging that the schools colluded to raise tuition rates and reduce financial aid awards for certain admitted applicants. 1 On the same day, the eight Ivy League schools, but not M.I.T., settled the Department of Justice complaint by signing a consent decree. 2 Among other things, the decree prevents the schools from jointly fixing tuition or financial
... uition or financial aid and from exchanging financial aid information on admitted applicants.' The Department of Justice's investigation of financial aid and tuition practices, which began in August 1989, eventually covered fiftyseven colleges and universities. 4 Among the colleges investigated were twenty-three private colleges called the Overlap Group. 5 These schools met each spring just before final admission decisions to share information on financial aid and to jointly set tuitions and t B.A., B.S., 1989, University of Kansas; J.D. and M.A. Candidate 1993, The University of Chicago.