College Financial-Aid Loophole: Wealthy Parents Transfer Guardianship of Teens

Re:College Financial-Aid Loophole: Wealthy Parents Transfer ... by Scoundreller on Monday July 29, 2019 @10:40PM (#20561666)

Or students that had a good relationship with their separated parents, but would deny any support from the wealthier parent in their loan applications.

Or students that had cash-paying jobs to keep their income low

Or those returning to school being penalized because they saved some funds in the intervening years (I guess this one's debatable... still annoying how they expected me to withdraw from my 401k equivalent, but didn't expect you to cash out your pension)

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Re:College Financial-Aid Loophole: Wealthy Parents Transfer ... by briandear on Monday July 29, 2019 @10:53PM (#20561730)

> Or students that had cash-paying jobs to keep their income low

So they committed tax fraud as well as financial aid fraud? (Presumably “cash” is another way of saying “unreported income.”

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Re:College Financial-Aid Loophole: Wealthy Parents Transfer ... by Scoundreller on Monday July 29, 2019 @11:53PM (#20562013)

There are those that do, especially as students (often working in tip-heavy industries).

Just making the point that means-testing is fraught with hazards.

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