I think the fascinating thing about these lawsuits is that they'll revolve around two questions:

First, what did the schools promise? And, did they deliver on it?

I doubt it's spelled out in a contract but based on most schools' marketing, the "promise" includes instruction, state of the art classrooms & labs, access to professors, peers, extra curricular activities, dorms, a beautiful campus, and a number of other things. Obviously they've delivered some form of instruction and potentially a way to connect with peers.. but was it the quality or even the product promised/implied?