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

[ajnapoleon]

They tell you to work hard and

Pull your self up by the bootstraps



That’s for us not for them

 

[NoMoreWhiteWoman2020]

Let’s talk about how most white frat and sorority houses on campuses have a $1/99 year lease

Most construction bids are given to donors, and they build unnecessary buildings

 

[☑︎#VoteDemocrat]

This was big business while I was at USC, along with kids claiming emancipation.

I won't even get into the Chinese kids born here during "Vacation" who came back to the US for school and balled out on student loans only to head back to China right after graduation. With no plans of paying back the loans. Many already coming from wealthy families

 

[NoMoreWhiteWoman2020]

I don’t support right wing politics but I wonder what college campuses would look like if ICE started raiding all the foreign students and professors.

Maybe engineering could become a feasible thing to major in again (competition is too high and it’s unfair that they just go back their countries after graduating, not contributing to helping over here).

Plus I am sick of math and science classes where I can’t understand the professor because he just moved from China or India 4 years ago. They make math classes so much harder because you basically lack instruction and are left to learn hard concepts on your own

 

[☑︎#VoteDemocrat]

 

[Jhoon]

I don’t support right wing politics but I wonder what college campuses would look like if ICE started raiding all the foreign students and professors.

Maybe engineering could become a feasible thing to major in again (competition is too high and it’s unfair that they just go back their countries after graduating, not contributing to helping over here).

Plus I am sick of math and science classes where I can’t understand the professor because he just moved from China or India 4 years ago. They make math classes so much harder because you basically lack instruction and are left to learn hard concepts on your own

You’re a moron.

 

[CreepyMcCreeperson]

This is why white people sound ridiculous when they complain about race based scholarships, and affirmative action.

They always find ways to get the same benefits, and always move the goal post, or change the rules.

White men complaining about minority and women business grants, while putting businesses in their white wives names to get the money.

 

[Phantum]

We need someone on the inside to tell us about these scams. Like how many of us could have gone to college but families couldn't afford it?

 

[HE_Pennypacker]

Man white people are entitled as fukk, so I definitely believe this.

I work in finance here. Rich people with $100,000 in cash will spend it all doing up their already-lavish homes just to still qualify for a govt pension. They’re flush with cash and assets but still want the same pension others are relying on to survive using that as spending money

 

[™BlackPearl The Empress™]

Learn the game...

 

[Fillerguy]

i work in the financial industry. Financial advisors have been asking all summer if this counts as income

I hit them with the "Sir you're going to have to consult a tax consultant " and start juelzing. That one question is the only thong preventing this shyt from happening in most cases. Sont get me started in trusts whos trustees are trusts of trusts of several different trusts.

Hey did you know tou can transfer a life insurance policy to your child when they turn 18. The money is tax free after the distribution and has a better return than a college saving plan. As long as you can handle the premium for 18 years

 

[Jhoon]

Learn the game...

Or you can blame the poor.

I don’t know how many times I have posted that I have seen numerous Russians driving $110K Benz trucks using an EBT card at Whole Foods.

 

[Spliff]

This is new?

 

[OfTheCross]

Parents Are Giving Up Custody of Their Kids to Get Need-Based College Financial Aid — ProPublica

Parents are giving up legal guardianship of their children during their junior or senior year in high school to someone else — a friend, aunt, cousin or grandparent. The guardianship status then allows the students to declare themselves financially independent of their families so they can qualify for federal, state and university aid, a ProPublica Illinois investigation found.

“It’s a scam,” said Andy Borst, director of undergraduate admissions at the University of Illinois at Urbana-Champaign. “Wealthy families are manipulating the financial aid process to be eligible for financial aid they would not be otherwise eligible for. They are taking away opportunities from families that really need it.”

Borst said he first became suspicious when a high school counselor from an affluent Chicago suburb called him about a year ago to ask why a particular student had been invited to an orientation program for low-income students. Borst checked the student’s financial aid application and saw she had obtained a legal guardian, making her eligible to qualify for financial aid independently.

The University of Illinois has since identified 14 applicants who did the same: three who just completed their freshman year and 11 who plan to enroll this fall, Borst said.

 

[MegaManX]

This is why vigilante shyt needs to go down. This country is set up to have the shyttiest leaders in the world. Nothing worse than raising the next generation of rich kids to scam poor people. Literally training them daily to scam and rob poor people. That is sadistic.

Need to french revolution that bytch and have some rich heads roll so they understand they not going to get away with this bullshyt