Parents encouraging kids that they will pay if they get into good college

[sybbie719]

@eandesmom

That is correct from a FAFSA standpoint, however, if a child could show they were self fully sustaining financially, (paying rent, all utilities etc) in the income scenario outlined above at a profile school, they may be able to argue their case as being independent, and qualify for some aid at meets full need school. I was able to do so at 21 but that was a long long LONG time ago and my parents were not wealthy. The rules have changed.

This is no longer the case. at many schools if you start as a dependent student, you remain a dependent student, even if you have a life event that may make you independent for federal aid (marriage, a child). In addition at many deep pocket schools, you now have to be 27 or show 5 years of self sufficiency, before the school will consider you independent for institutional aid.