No the students did receive aid and they probably received more aid than they would at almost any other school in the country. Of course there are cheaper sticker price options like in-state public universities, but specifically talking about the aid, it is quite good at elite schools. If people want to be mad about kids getting ripped off they should be mad at mediocre private U that has the same sticker price with a worse product and substantially worse aid packages.
Anyway the claim in the lawsuit about lost money is really just theoretical - most of the top schools collaborate in developing methods to determine how much aid a student should receive. The lawsuit is claiming that if the top schools could not "collude" on aid, students would have gotten more of it.
However I think that is a massive assumption that is not going to play out the way they would like. These schools reject 100s of qualified people every year that would gladly take a spot with current aid packages. There might be an occasional superstar that schools do compete over, but your average small town middle class 1600 SAT kid is super fucking replaceable.
Hell I could see aid being lower if schools didn't "collude", because being part of this need blind consortium is good PR. The lesser schools that give lesser aid are the ones that supposedly don't collude.
Legally it will be an interesting case though - the reason these schools are allowed to work together on aid package formulas is because they practice need blind admissions, which really only the top unis do. The lawsuit argues that admissions is not actually need blind, because of preferential admission for wealthy donors and some other admissions dynamics that are more common and inadvertently factor in wealth.
That makes this discovery highly relevant to the case, and while I think need blind status will be ultimately upheld, I'm sure the schools don't want the info getting out.
Interestingly, the initial lawsuit is based purely on public info and a handful of salty (unclear why) students. There isn't private info about people's aid packages or anything like that supporting it as far as I can find. I suspect the people suing realized they had an argument the schools weren't actually need blind, and that is what they actually wanted to challenge, so they dug up an argument about supposed low ball aid packages because the need blind schools form an aid consortium.
A lot of the articles about the lawsuit have left out critical details about what is actually being claimed, the claims make no sense until you realize this is actually about challenging need blind status. Here is an article that does touch on the key issues: https://www.nytimes.com/2022/01/10/us/financial-aid-lawsuit-...