University of Chicago to pay $13.5M to students for 'price-fixing cartel' • Hacker News Board

Re: University of Chicago to pay $13.5M to students for 'price-fixing cartel'

#11

Post by junar » Fri, Aug 18, 2023, 12:13 AM UTC

superchroma wrote: post #3

Has nearly 19k students according to https://www.univstats.com/colleges/university-of-chicago/stu... So that's about $700/person. Less if graduated students get comped too.

No grad students. No international students. Only students who received some financial aid, but less than the total cost of attendance.

On the other hand, it goes all the way back to students from 2003.

https://fingfx.thomsonreuters.com/gfx/legaldocs/jnpwwwwyypw/...

Re: University of Chicago to pay $13.5M to students for 'price-fixing cartel'

#12

Post by Obscurity4340 » Fri, Aug 18, 2023, 8:52 AM UTC

Obscurity4340 wrote: post #6

I wonder if universities would ever get RICO'd over stuff like this...It desperately needs to happen.

For the downvoter: its happened with grades at the primary/secondary level (again, over GRADES), why is it unreasonable to extend that to price-fixing at the post-secondary level? At least tell us all how I'm incorrect...At the end of the day, whether its still about money and prestige or both, it doesn't matter.

Re: University of Chicago to pay $13.5M to students for 'price-fixing cartel'

#13

Post by hippocombinator » Fri, Aug 18, 2023, 11:21 AM UTC

jfengel wrote: post #10

hippocombinator wrote: post #9

Wow I thought they are supposed to be good at Economics there.

They're great at economics. They made a ton of money off of it. Apparently they're not great at covering things up, but that's not something they're supposed to teach in school.

Anyone can make a ton of money if they break the law and then get caught later, that doesn’t require being good at anything.