A recent class action lawsuit claims 17 elite colleges, including Brown University, MIT (Massachusetts Institute of Technology), and the University of Pennsylvania (UPenn), illegally used students’ wealth to influence admissions and financial aid determination. The plaintiffs argue this collusion resulted in less financial aid being given iut than would have been provided. Yahoo Finance host Madison Mills dives into the details of the lawsuit, including emails allegedly showing donations being prioritized by admissions officers, with students of wealthy families gaining advantages regardless if they were qualified to be admitted into these schools. So far, ten of the 17 schools have already settled on these cases — paying over $280 million to plaintiffs — while the remaining schools, including UPenn, MIT, and Georgetown University, have all denied considering applicants’ wealth in the admissions process.
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