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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: 4, Insightful) by Gaaark on Tuesday July 30 2019, @06:50PM (2 children)
Okay: in the states, if you're dirt poor what kind of help will you get?
My wife has lieukemia and right now is in the 'wait and see' state: she has gotten first class help all along.
Seems to be working so far....
And I've heard horror stories about American health care too: don't you have like one of the highest infant mortality rates in the world?
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 1, Redundant) by pdfernhout on Tuesday July 30 2019, @07:52PM
On fasting to reduce negative aspects of chemotherapy: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3048045/ [nih.gov]
General on nutrition and cancer: https://www.drfuhrman.com/get-started/health-concerns/26/cancer [drfuhrman.com]
Good luck to you and your wife.
The biggest challenge of the 21st century: the irony of technologies of abundance used by scarcity-minded people.
(Score: 2) by PartTimeZombie on Tuesday July 30 2019, @09:26PM
Here's an example I found after 1 minute of searching. [usatoday.com] Mr. Santoro in the article had to pay $700 of the $2,700 he was invoiced because he hadn’t yet hit his annual deductible but it is no wonder people who have been in accidents in the US refuse medical help.