15 votes

College financial-aid loophole: Wealthy US parents transfer guardianship of their teens to get aid

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  1. Luna
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    This is crazy. Rich families transferring guardianship so their teens can get financial aid is like going to a food bank - there are people so much more deserving than them. Go cry me a river....

    This is crazy. Rich families transferring guardianship so their teens can get financial aid is like going to a food bank - there are people so much more deserving than them.

    While her household income is greater than $250,000 a year, she said, she and her husband have spent about $600,000 putting several older children through college and have no equity in their home, which is valued at about $1.2 million, according to the property website Zillow. She said she has little cash on hand and little saved for her daughter’s education.

    Go cry me a river. Rather than move to a smaller home or use your own income to pay for your daughter's education, you transfer guardianship of your child so taxpayers can subsidize the higher education of the rich. This is ridiculous.

    10 votes