Word: settlements
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...settlement also permits colleges to share information about financial aid awards--but only after the awards have been made...
Observers said the settlement would have little immediate effect on students...
...settlement ends two and a half years of litigation. It bars colleges from discussing or agreeing on specific financial aid awards for individual applicants, but it allows the institution to exchange for verification purposes, through a third party, financial information submitted by prospective students...
...This decision enhances competition between colleges on the quality of education," MIT President Charles M. Vest said in the statement released after the settlement. "It re-establishes the principle that colleges, in awarding their funds for scholarships, can follow the...principle that because funds are limited, financial aid in the forms of loans and grants are awarded to students who could not attend college without that financial assistance...
...unidentified source told the Wall Street Journal yesterday that MIT will have the advantage in the settlement. "MIT is getting 95 percent of what it wanted," the source said. "It's a total cave-in by the government...