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<p>Rock on! However, spending alone won’t be true arbitrage if EFC duns your savings at a rate below 100 percent (so it’s similar to the scheme of spending money so as to pay less tax, which is actually a loss). What might work better is to move your money to places, such as the hands of trustworthy non-tuition-paying associates, who would pay at a lower rate on it; tax but not tuition. Check with a tax lawyer to make sure it is done legally (this is why you need a trustworthy person on the other end; you will have to actually surrender control of the funds for it to be anything other than a fraud).</p>