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A comment on Dropping the Sat Requirement Is a Luxury Belief. Parent comment

Re:Dropping the Sat Requirement Is a Luxury Belief by djbusby on Sunday March 05, 2023 @11:08AM (#35030842)
If your family has $10MM in the bank, you too can take (and report) to IRS zero income.
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Re:Dropping the Sat Requirement Is a Luxury Belief by flangola7 on Sunday March 05, 2023 @11:12AM (#35030890)
In the US parents' income is already considered when applying for financial aid. Just add that info to admissions
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Re:Dropping the Sat Requirement Is a Luxury Belief by lordnacho on Sunday March 05, 2023 @11:47AM (#35031272)
Does this mean you can not work for a couple of years to make it easy to get in, plus get a discount on the fee?
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Re:Dropping the Sat Requirement Is a Luxury Belief by selectodude on Sunday March 05, 2023 @12:53PM (#35032061)
No, assets are taken into consideration for that exact reason.
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Re:Dropping the Sat Requirement Is a Luxury Belief by sklargh on Sunday March 05, 2023 @01:01PM (#35032162)
Assuming US due to agency choice. What about a 1099-INT? Surely even trivial interest earnings on 10mm would trigger this?

Moreover I'd expect that any given user w/10mm would be rolling into multiple accounts to maximize protection offered by FDIC.

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Re:Dropping the Sat Requirement Is a Luxury Belief by pjscott on Sunday March 05, 2023 @02:52PM (#35033246)
If you put the money mostly into bonds or stocks that don't issue significant dividends, you'll pretty much just have to worry about capital gains (form 1099-B), and those aren't taxed until the fiscal year in which they're realized.
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