The Henry v. Brown University settlement is a series of class-action agreements totaling roughly $320 million paid by twelve elite private universities accused of colluding to limit need-based financial aid. Both claim filing deadlines have now passed: April 3, 2025, for the first round of ten schools, and December 27, 2025, for the later California Institute of Technology and Johns Hopkins agreements.1Financial Aid Antitrust Settlement. Henry v. Brown University Caltech and Johns Hopkins Settlement Five remaining universities have refused to settle and are heading toward trial, which could eventually produce a separate recovery.
What the Case Is About
Former students sued seventeen private universities in January 2022, alleging the schools used an organization called the 568 Presidents Group to develop and share a common formula for calculating what families could afford to pay.2Justia. Henry v. Brown University – Case No. 1:22-cv-00125 The plaintiffs say that shared methodology suppressed the competition that would otherwise have pushed schools to offer more generous aid, so students who received partial need-based aid ended up paying more than they should have.3Financial Aid Antitrust Settlement. Henry v. Brown University Financial Aid Lawsuit
Congress had carved out a narrow antitrust exemption for exactly this kind of collaboration under Section 568 of the Improving America’s Schools Act of 1994, but it only protected schools that admitted every student on a need-blind basis.4GovInfo. Improving America’s Schools Act of 1994 – Section 568 The complaint alleges the defendants weren’t truly need-blind, pointing to wealth-based decisions on waitlist admits and preferential treatment for children of major donors. The exemption itself expired on September 30, 2022.
Which Schools Settled
Twelve of the seventeen defendants have settled while continuing to deny wrongdoing. The first round, approved in July 2024, resolved claims against ten schools for $284 million. A second round in 2025 added Caltech and Johns Hopkins for a combined $35.25 million.5PR Newswire. Settlement Administrator Angeion Group Announces Final Approval of Settlements in Henry v. Brown University Class Action The settling schools are:
- Brown University
- California Institute of Technology
- Columbia University
- Dartmouth College
- Duke University
- Emory University
- Johns Hopkins University
- Northwestern University
- Rice University
- University of Chicago
- Vanderbilt University
- Yale University
Can You Still File a Claim?
No. Both deadlines have passed. If you filed a valid claim for the first round of ten settlements by April 3, 2025, you were automatically considered for the Caltech and Johns Hopkins payments without needing to submit anything new. The Caltech and Johns Hopkins deadline itself closed on December 27, 2025.1Financial Aid Antitrust Settlement. Henry v. Brown University Caltech and Johns Hopkins Settlement If you didn’t file, you won’t share in the existing settlement funds.
Who Was Eligible
The settlement class covered former undergraduates who enrolled full-time at one or more of the seventeen defendant schools, received at least some need-based financial aid, and had tuition, fees, room, or board that were not fully covered by grants or merit aid (loans didn’t count as coverage).5PR Newswire. Settlement Administrator Angeion Group Announces Final Approval of Settlements in Henry v. Brown University Class Action Class members had to be U.S. citizens or permanent residents at the time.
Class periods varied by school. Most began with the fall 2003 term. Brown, Dartmouth, and Emory started with fall 2004. Caltech’s window opened with fall 2019, and Johns Hopkins with fall 2021, reflecting when those schools joined the 568 Group.6Justia. Henry v. Brown University – Case No. 1:22-cv-00125
How Much Claimants Received
Payouts are modest. The settlement administrator estimated the average claimant would receive around $250 from the Caltech and Johns Hopkins settlements alone, assuming roughly half of the estimated 200,000 eligible class members filed claims.1Financial Aid Antitrust Settlement. Henry v. Brown University Caltech and Johns Hopkins Settlement Attorney fees and administrative costs reduce the pool available for distribution, which is typical in class actions covering hundreds of thousands of people.
What’s Happening With the Five Holdouts
Five universities have refused to settle. As of early 2026, the court described the prospect of settlement with them as “remote.”6Justia. Henry v. Brown University – Case No. 1:22-cv-00125 They are:
- Cornell University
- Georgetown University
- Massachusetts Institute of Technology
- University of Notre Dame
- University of Pennsylvania
Discovery is complete, and in January 2026 the court denied the defendants’ motion for summary judgment, sending the case toward a jury.6Justia. Henry v. Brown University – Case No. 1:22-cv-00125 Class certification for the litigation class is still pending. If the case eventually produces a verdict or new settlement, there could be a separate claims process with new deadlines for students who attended those five schools.
Taxes on Any Payment You Receive
Settlement money from this case is almost certainly taxable. The IRS looks at what a payment was meant to replace, and payments compensating for economic harm (in this case, overpaying for college) count as ordinary income. The physical-injury exclusion doesn’t apply.7Internal Revenue Service. Tax Implications of Settlements and Judgments Expect a Form 1099 if your payment is $600 or more. Smaller amounts are still reportable even if no form arrives, so keep records of anything you receive.