SoylentNews is people
SoylentNews
Submitted via IRC for Bytram
College Financial-Aid Loophole: Wealthy Parents Transfer Guardianship of Their Teens to Get Aid
Amid 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.
The strategy caught the department's attention amid a spate of guardianship transfers here. It means that only the children's earnings were considered in their financial-aid applications, not the family income or savings. That has led to awards of scholarships and access to federal financial aid designed for the poor, these people said.
Several universities in Illinois say they are looking into the practice, which is legal. "Our financial-aid resources are limited and the practice of wealthy parents transferring the guardianship of their children to qualify for need-based financial aid—or so-called opportunity hoarding—takes away resources from middle- and low-income students," said Andrew Borst, director of undergraduate enrollment at the University of Illinois. "This is legal, but we question the ethics."
Also At:
https://www.propublica.org/article/university-of-illinois-financial-aid-fafsa-parents-guardianship-children-students
https://chicago.suntimes.com/2019/7/29/20746376/u-of-i-parents-giving-up-custody-kids-get-need-based-college-financial-aid-university-illinois
(Score: 0) by Anonymous Coward on Tuesday July 30 2019, @03:12PM (3 children)
Hey bird brain, still morphing into an invertebrate? You must be the earliest bird.
(Score: 2) by The Mighty Buzzard on Tuesday July 30 2019, @11:04PM (2 children)
You call that early? You don't spend much time in the grown-up world, do you? Even if you thought I was posting from PDT instead of CDT, I would still have been up drinking coffee for nearly two hours by then.
My rights don't end where your fear begins.
(Score: 0) by Anonymous Coward on Wednesday July 31 2019, @10:03PM (1 child)
Look to your left, and look to your right. Are you seeing bingo cards everywhere? Cause your version of "grown up" seems to tend towards senility.
(Score: 2) by The Mighty Buzzard on Wednesday July 31 2019, @10:31PM
It's possible that one of these days you'll have a grown-up job and have to get up early five days a week. You're not going to enjoy it and will probably be fired for showing up late too many times. Keep at it though and one of these days you'll join us folks who get up in the morning and go to bed at night.
My rights don't end where your fear begins.