The lawsuit alleges that the Financial Aid Standards and Services Advisory Committee worked with colleges in 2006 to adopt a common methodology for capturing information about noncustodial parents' income and assets, constituting a 'conspiracy' that has raised the costs plaintiffs face when paying for college.
The cost of higher education has significantly increased, with tuition, room, and board rising 169% between 1980 and 2020, correlating with a threefold increase in student debt from 2006 to 2024.
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