$500 billion, lol. Seems a tad excessive. Some lawyers looking to “John Edwards” his lifestyle on the backs of the taxpayers and students.
First, how many students were admitted in total under this scheme? Second, how many went to, say, Yale by fraud but would have been able to go to USC by merit? So how many spots total were actually hindered by the scheme? Third, some of these Title IX “athletic” admissions may have never been filled with or without fraud in which cases nobody was denied. Fourth, the incoming classes always fluctuate in size. They admit a certain number, expecting a lesser number to accept, and the ultimate number could have a +/- 5% range. Hard to say with certainty that everyone who was rejected got shafted because of the fraud of a few 100 students/parents and a dozen or coaches/doctors/proctors and schemers.
There is some validity in the argument that a hypothetical abstract person’s admission may have been unduly filled by a fraud or bribe student, but it’s a hard case to prove in the specifics. And to put financial culpability on the University, if they were unaware of the fraud, is a stretch. As I read, the UCLA bribes went to the home of a UCLA coach. I don’t think anyone involved in taking bribes was silly enough to flaunt it so that the Admissions office would be aware of this scheme.