Giving up guardianship for aid.......

AlbionGirl
Wed, 31 Jul 2019 23:01:20 +0000

It looks as though the families taking advantage of this “guardianship” loophole are about to get a financial aid verification. From a second article in the WSJ

The U.S. Education Department condemned Ms. Georgieva’s actions and said it was moving to stop them.

“Those who break the rules should be held accountable,” spokeswoman Liz Hill said Tuesday in a statement. “The Department is committed to assessing what changes can be made—either independently or in concert with Congress—to protect taxpayers from those who seek to game the system for their own financial gain.”

Also.

Colleges started receiving applications from Ms. Georgieva’s clients last year. The University of Illinois, where annual costs, including tuition, room and board, range from $32,000 to $36,000 for in-state students, said it spotted 15 students who may have used the strategy. “The university likely will withhold institutionally funded need-based financial aid until we are satisfied that students who have transferred guardianship don’t have other financial resources available,” said Andy Borst, director of undergraduate admissions of the University of Illinois.

I think the loophole is about to be closed.