CSS Profile and Divorced Parents with Unequal Assets

BelknapPoint
Wed, 02 Dec 2020 22:02:15 +0000

srparent15:

Unfortunately, it’s quite easy, however, I’m not going to give people here any ideas as I’m sick of seeing people who take advantage of the system and those who really need and deserve it, winding up deep in debt.

If by “hiding assets” you mean not reporting assets on financial aid forms that should be reported, yeah, that is easy. It’s also pretty easy to catch, with only some curiosity and a little bit of digging needed. There is no other “easy” way to hide a 529 account that is legally owned by the student or a reporting parent. Declining to say how this can be done because you don’t want to “give people here any ideas” is a cop out and causes me to seriously question your claim.

srparent15:

It takes no consideration into certain debt that someone may have either.

And what kind of debt should be taken into consideration?

srparent15:

Again, many problems with the whole system and calculation and the single parent or parents making less income/assets really gets dinged because it is not like the other parent is suddenly going to make up for that.

When a divorced parent (or any parent, really) has the means to support a child’s higher education expenses but refuses to do so, should the schools step in and make up for some or all of the money that the parent(s) could reasonably contribute? A system that works like this would suddenly have parents all over the country refusing to pay for a child’s college education, because, you know, the school will do it for me. Also, where is the school going to get the extra money needed?