Rice University Sets Aside $33 Million to Settle Antitrust Lawsuit

Rice University has set aside $33.75 million to settle an antitrust lawsuit filed against 17 prestigious private universities across the country accused of illegally running a scheme that limited the amount of financial aid given to students, according to the school’s financial statementsEditSign for last year.

The Houston-based university’s financial statement for last fiscal year, first reported by the Houston Chronicle, says the school will use the money to settle “a class action lawsuit in which it had been named a co-defendant along with sixteen other universities.”

Court records related to the case reviewed Friday do not show a settlement agreement has been reached yet. Rice declined to comment on the lawsuit and the financial statement. The plaintiffs did not respond to a request for comment Friday.

Read the source article at Houston Public Media