I agree that the students I refer to were better off with scholarships to the schools they went to than they would’ve been with loans to somewhere else. The problem is that those elite diplomas can lead to unfair advantages for those who are handed them. A very good outcome of this would be that those diplomas from the “elite” schools are irrelevant and maybe even a disadvantage. The exception is, of course, the upper tier Engineering Schools. But you don’t hear of anyone cheating to get into MIT.
I agree with this, but I highlighted two words that will completely undermine any lawsuits against a school over this. The word "can" means the plaintiff would have a hard time proving any financial loss, and "unfair" is so totally subjective that it is meaningless in a civil suit like this.
A very good outcome of this would be that those diplomas from the "elite" schools are irrelevant and maybe even a disadvantage.
I agree. They were already in this position years ago, as far as I'm concerned. When I was hiring staff in my STEM field I would routinely discard any resumes I received from Ivy League graduates.
The biggest harm this scandal has caused has been to the reputations of the schools, not the lives of rejected applicants. The schools won't be suing anybody, though -- for good reason.