Financial Aid Antitrust Settlement: File Now To Get Payout – Check Lates Updates!

Students who received financial aid to cover other costs to attend the seventeen schools during a certain time period will receive compensation. The Caltech and Johns Hopkins University settlement claim form is out; the eligible students can learn about the claim process, eligibility, payout, and other details here. 

The lawsuit involves the California Institute of Technology and Johns Hopkins University, which were the last defendants of the larger antitrust case. The plaintiff claims the defendants could have competed and increased the financial aid, but they conspired to reduce the amount. 

The defendants have denied all the allegations and agree with other universities regarding the financial aid. The defendant agrees to pay $35,250,000 to compensate the affected students under the settlement. Students can claim the settlement against Caltech and Johns Hopkins before 27 December 2025. 

What are the allegations under the Financial Aid Antitrust Settlement?

The Caltech and Johns Hopkins University settlement involves the following allegations that led to the plaintiffs’ filing the lawsuit:

• The lawsuit alleged that the defendants violated the Sherman Antitrust Act as they tried to fix or limit the amount of financial aid students received.
• The lawsuit says Caltech and Johns Hopkins University were a part of the 568 Presidents Group, where the members shared sensitive information related to financial aid, and allegedly tried to create and apply common principles to calculate financial needs for the students. 
• All the school members of the group implemented the common principles, reducing the amount of financial aid for the students. 

Who can claim the Financial Aid Antitrust settlement?

If you are wondering whether you can claim the Caltech and Johns Hopkins University settlement or not, you can check the class member eligibility below:

• If you were enrolled in one or more Defendant’s undergraduate programs (full-time). 
• You have received need-based financial aid from the defendant Universities. 
• You have to pay for the tuition, room, fees, or board in any year from your own pocket because it is not fully covered under the merit scholarships or financial aid. 
• The class period of the settlement differs depending on the Universities, such as:

• Brown, Emory, and Dartmouth: From the 2004 fall term to 28 February 2024.
• Caltech: From the 2019 fall term till 28 February 2024. 
• Chicago, Cornell, MIT, Georgetown, Columbia, Notre Dame, Yale, Northwestern, Rice, Penn, Vanderbilt, and Duke: From the fall term of 2003 till 28 February 2024.
• Johns and Hopkins: From the fall term of 2021 till 28 February 2024. 

Exclusion:

• Non-US citizens at the time they attended the Universities will be excluded from the settlement. 
• Defendants, trustees, officers, former or current employees, or others cannot participate in the settlement. 
• The judge, judicial staff, clerks, and immediate family members of the judge cannot claim the settlement. 

What will your payout be under the Financial Aid Antitrust settlement?

The defendants agreed to pay $35.25 million, where the fund will be first used to cover the administration expenses, monetary awards for the class representative, and attorneys’ fees. 

After the above deduction is made from the settlement fund, the remaining funds will be used to compensate the eligible students.

The settlement agreement does not state the compensation amount for each individual, as it can be different depending on multiple factors. Your settlement payout will depend on the following factors:

• Your out-of-pocket payment for the extra cost when it is not covered by financial aid or scholarships. 
• The years you paid for college at one of the schools under a full-time undergraduate program.  The net price will be assigned based on the number of years, and then converted to dollars under the CPI. 
• The administrator would find the average of the net price over the years for each class member with a valid claim, and this sum would be used in the formula.
• You will receive the payout based on the court-approved formula to divide the fund fairly among all the students. 

How to claim the Caltech and Johns Hopkins settlement?

If you are a class member of the Caltech and Johns Hopkins settlement, you can follow any of the following methods to file your claim:

• Online: 

• Go to the official website of the settlement at https://www.financialaidantitrustsettlement.com/caltech-johns-hopkins-settlement/
• Now, click the Submit Claim option and enter your claim ID and confirmation code. 
• If you don’t have the claim ID and code, you can click the other option shown on the screen.
• Once you log in, you can access the claim form of the settlement, enter all the valid details, and submit it with all the supporting documents.  
• Mail: You can find and download the claim form from the settlement website and mail it to the following address:

• Financial Aid Antitrust Settlement
• 1650 Arch Street,
• Suite 2210, Philadelphia, PA 19103. 

Remember, if you have submitted the claim for the other settlement whose deadline has already passed, you may be automatically considered for this additional settlement if you qualified as a class member.

The Caltech and Johns Hopkins University settlement claim deadline is less than two months away; the affected students should file the claim form and get a chance to receive compensation from the $35.25 million fund. 

Disclaimer: The Financial Aid Antitrust Settlement information is for informational purposes only. Eligibility, claim procedures, and payout amounts are determined by the official settlement administrator.