Wealthy parents giving up guardianship of their kids to get financial aid, report says

Wealthy parents in Illinois are giving up legal guardianship of their children in order to"scam" universities into qualifying them for need-based financial aid money, ProPublica Illinois reports., many of whom are doctors and lawyers, exploiting a legal loophole to save money at the expense of low-income students.

“It’s a scam,” Andy Borst, director of undergraduate admissions at the University of Illinois at Urbana-Champaign, told ProPublica. Borst said wealthy families are “manipulating” financial aid rules to make themselves eligible, while students facing financial hardships aren't getting all of the money they need to attend college.

Hey ewarren ,how about you nail down your rich friends who do this so the money goes to those who can least afford it. But you think it's better just to give it all for free.

Smart people. Same way Americans will start receding their citizenship in Cali to gain free health care and escape taxes.

😶😶😶

Wealthy people have absolutely no shame. Sorry asses the lot of you.

Shameful - name all the abusers and make them pay the money back. I’d also make these despicable grifters stand in front of the kids who didn’t get aid or into college as a result of their wanton greed

Disgraceful. But not surprising. Wealthy people are both smart and disgusting.

But poor people get arrested simply for trying to get their kids a better education out of their districts.

Out of state tuition is horrible, they just need to stop.

Legal but not logical.

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College Financial-Aid Loophole: Wealthy Parents Transfer Guardianship of Their Teens to Get AidThe Education Department is looking into a tactic that has been used in some Chicago suburbs, in which wealthy parents transfer legal guardianship of their college-bound children to relatives or friends so the teens can claim financial aid. Old news!!! Twisted ridiculous systems (such as American college finance) motivate twisted ridiculous workarounds. It’s the rational move. I wasn’t kidding when I said it’s easier for a camel to go through the eye of a needle than for a rich man to enter the Kingdom of God. Have you ever seen a camel? Have you ever threaded a needle? See where I’m going with this?
Source: WSJ - 🏆 98. / 63 Read more »

Rich parents are using this extreme method to get their kids financial aid for collegeAmid an intense national furor over the fairness of college admissions, the Education Department is looking into a tactic that has been used in some suburbs here, in which wealthy parents transfer legal guardianship of their college-bound children to relatives or friends so the teens can claim financial aid, say people familiar with the matter.
Source: MarketWatch - 🏆 3. / 97 Read more »

Suburban parents are giving up guardianship of their teens so they can claim college aid meant for poor familiesA ProPublica investigation found that parents in the Chicago suburbs were using the legal loophole to give their kids a leg up in college admissions. MAGA I call bullshit No way!!! 😂😂😂😂😂. College ain't cheap, can't blame them much 😂
Source: BusinessInsider - 🏆 729. / 51 Read more »