What Will Some Wealthy Parents Not Do if a Free Buck to be Made?

[Anonymous]

Anonymous wrote:I wish the publications mentioned the race of the parents/students resorting to the above described practice. It will be very revealing.

You wish to inject race into the matter? I predict you'll get a mostly white mix that reflects the racial make-up of the wealthy families in the Chicago area.
This has nothing to do with race.

[Anonymous]

Anonymous wrote:

Anonymous wrote:To quote one poster:

"Parent’s income and assets shouldn’t determine the price of a future working adult’s college education, but that’s exactly what the aid and so-called scholarship system has produced in just the last two decades. That and exorbitant tuition costs that are not justifiable.

This is the real scam."

Yes, this.

+1.

-100.

The high cost of housing doesn't permit anyone to not pay their mortgage or rent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Eh. Maybe colleges and universities should stop ripping everyone off and people would stop looking for loopholes. This one is perfectly legal until they change the law.

But people will just keep looking for more loopholes. Why should 1 family pay $60k and another family pay nothing for the same education. A college education is not an entitlement.

I can guarantee you it's not legal, and the schools will revoke the scholarships. It's a sham transaction - the attorneys involved might even deserve to be sanctioned by the bar.

It said IN THE ARTICLE it is currently not illegal.

[Anonymous]

Some excerpts:

The Illinois Probate Act, the law that governs guardianship, does not specify circumstances in which guardianship should be denied. According to Illinois law, a court can appoint a guardian if the parents consent, the minor agrees and the court determines it is in the minor’s best interest. Even if a parent is able to care for the child, the court can approve the guardianship if the parents voluntarily relinquish custody of the child.

Berlin said families who are going this route are in a financial position where their income is too high to qualify for financial aid but they still will struggle to pay for college. While this is an atypical use of guardianship, Berlin said, families have a strong legal basis for bringing the cases. The law doesn’t preclude it, she said.
“It’s a solution they have been able to find as college costs go up and they are unable to pay,” she said. “It is in the best interest of the minor, which is the statute’s purpose.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:I wish the publications mentioned the race of the parents/students resorting to the above described practice. It will be very revealing.

You wish to inject race into the matter? I predict you'll get a mostly white mix that reflects the racial make-up of the wealthy families in the Chicago area.
This has nothing to do with race.

How convenient! Also, posters here condoning the practice by saying "it is legal" and blaming ever increasing college costs as the reason mostly belong to white race as well. Just saying.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:To quote one poster:

"Parent’s income and assets shouldn’t determine the price of a future working adult’s college education, but that’s exactly what the aid and so-called scholarship system has produced in just the last two decades. That and exorbitant tuition costs that are not justifiable.

This is the real scam."

Yes, this.

wha ...? I am all for reducing college costs, but your parents should absolutely have to contribute what they can.

Can you put the rationale for your thinking in words, other than to use the word "absolutely"?

I don't think anyone except you need this explained. Or are you trying to argue we should provide actually free college to everyone, funded by property and income tax increases? That might be ok.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:To quote one poster:

"Parent’s income and assets shouldn’t determine the price of a future working adult’s college education, but that’s exactly what the aid and so-called scholarship system has produced in just the last two decades. That and exorbitant tuition costs that are not justifiable.

This is the real scam."

Yes, this.

wha ...? I am all for reducing college costs, but your parents should absolutely have to contribute what they can.

Can you put the rationale for your thinking in words, other than to use the word "absolutely"?

I don't think anyone except you need this explained. Or are you trying to argue we should provide actually free college to everyone, funded by property and income tax increases? That might be ok.

Well said.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Eh. Maybe colleges and universities should stop ripping everyone off and people would stop looking for loopholes. This one is perfectly legal until they change the law.

But people will just keep looking for more loopholes. Why should 1 family pay $60k and another family pay nothing for the same education. A college education is not an entitlement.

I can guarantee you it's not legal, and the schools will revoke the scholarships. It's a sham transaction - the attorneys involved might even deserve to be sanctioned by the bar.

It said IN THE ARTICLE it is currently not illegal.

Lol. First of all, even if it's legal, that doesn't mean it's not against the school policies. The kids could have their aid revoked, be required to repay it, and be expelled.

Second of all, it's a Pro Publica article, not a legal brief. Let's wait and see what the DA and US Attorney have to say. This was pretty clearly a sham guardianship transfer done exclusively to receive a financial benefit. I'm willing to bet you that the conduct of the parties showed they had no intention at all of actually transferring guardianship. The kids probably continued to live at home with their parents and be financially supported by them, and the parents probably continued to hold themselves out as custodians of the children for all sorts of other purposes. And, I'm also willing to bet that the parents paid the "guardians" for acting in that capacity. That's fraud.

[Anonymous]

Berlin said families who are going this route are in a financial position where their income is too high to qualify for financial aid but they still will struggle to pay for college. While this is an atypical use of guardianship, Berlin said, families have a strong legal basis for bringing the cases. The law doesn’t preclude it, she said.
“It’s a solution they have been able to find as college costs go up and they are unable to pay,” she said. “It is in the best interest of the minor, which is the statute’s purpose.”

Are these parents who would struggle to pay for college, or parents who would struggle to pay $65K for college?

We don't qualify for aid and we can afford about $40K for college. As far as I know, it is not abusive or neglectful to send your kid to a bachelor's program that costs less than a quarter of a million dollars.

DC wants to go to grad school without loans, so he is opting to go to an in-state school that costs $23K. He had a more prestigious option that would have cost closer to $40K and I think he made the right choice.

[Anonymous]

Anonymous wrote:Some excerpts:

The Illinois Probate Act, the law that governs guardianship, does not specify circumstances in which guardianship should be denied. According to Illinois law, a court can appoint a guardian if the parents consent, the minor agrees and the court determines it is in the minor’s best interest. Even if a parent is able to care for the child, the court can approve the guardianship if the parents voluntarily relinquish custody of the child.

Berlin said families who are going this route are in a financial position where their income is too high to qualify for financial aid but they still will struggle to pay for college. While this is an atypical use of guardianship, Berlin said, families have a strong legal basis for bringing the cases. The law doesn’t preclude it, she said.
“It’s a solution they have been able to find as college costs go up and they are unable to pay,” she said. “It is in the best interest of the minor, which is the statute’s purpose.”

LOLOLOL!! This is the attorney who facilitated the transactions. Of COURSE she's going to say it's legal. And just because Illinois law doesn't expressly say "you can't do a sham guardianship appointment just to get your kid more financial aid" does not mean that it wasn't fraud.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:To quote one poster:

"Parent’s income and assets shouldn’t determine the price of a future working adult’s college education, but that’s exactly what the aid and so-called scholarship system has produced in just the last two decades. That and exorbitant tuition costs that are not justifiable.

This is the real scam."

Yes, this.

wha ...? I am all for reducing college costs, but your parents should absolutely have to contribute what they can.

Can you put the rationale for your thinking in words, other than to use the word "absolutely"?

I don't think anyone except you need this explained.

Again, try using words instead of insinuations. Here's an attempt: "Parents are asked to pay for their adult children's college expenses (*) because .... "

For extra credit, also complete the sentence: "If parents who are asked to pay do not pay, their children do not have a recourse because ... "

Try it, and then proofread what you were trying to say.

See how difficult this is?

(*) except if they allowed their underage children to marry, or their children chose to have grandchildren, or the relinquished custodianship of their children

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:To quote one poster:

"Parent’s income and assets shouldn’t determine the price of a future working adult’s college education, but that’s exactly what the aid and so-called scholarship system has produced in just the last two decades. That and exorbitant tuition costs that are not justifiable.

This is the real scam."

Yes, this.

wha ...? I am all for reducing college costs, but your parents should absolutely have to contribute what they can.

Can you put the rationale for your thinking in words, other than to use the word "absolutely"?

I don't think anyone except you need this explained.

Again, try using words instead of insinuations. Here's an attempt: "Parents are asked to pay for their adult children's college expenses (*) because .... "

For extra credit, also complete the sentence: "If parents who are asked to pay do not pay, their children do not have a recourse because ... "

Try it, and then proofread what you were trying to say.

See how difficult this is?

(*) except if they allowed their underage children to marry, or their children chose to have grandchildren, or the relinquished custodianship of their children

Again, you're literally the only person who needs this explained. If you'd like to state your arguments and beliefs, go'head.

[Anonymous]

Anonymous wrote:

Berlin said families who are going this route are in a financial position where their income is too high to qualify for financial aid but they still will struggle to pay for college. While this is an atypical use of guardianship, Berlin said, families have a strong legal basis for bringing the cases. The law doesn’t preclude it, she said.
“It’s a solution they have been able to find as college costs go up and they are unable to pay,” she said. “It is in the best interest of the minor, which is the statute’s purpose.”

Are these parents who would struggle to pay for college, or parents who would struggle to pay $65K for college?

We don't qualify for aid and we can afford about $40K for college. As far as I know, it is not abusive or neglectful to send your kid to a bachelor's program that costs less than a quarter of a million dollars.

DC wants to go to grad school without loans, so he is opting to go to an in-state school that costs $23K. He had a more prestigious option that would have cost closer to $40K and I think he made the right choice.

And when he gets either place, he will find kids no more deserving than him, who paid nothing or next to it. My freshman roommate received a non-merit scholarship that included tuition, room, board and a monthly stipend she picked up from the Bursar. As a reward her doctor/lawyer parents bought her a brand new $50k car. I took out loans to the max as my parents were a construction worker and secretary with no college degrees. Why? Because I am white and my roommate wasn’t. Flame all you want - this is the God’s honest truth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:To quote one poster:

"Parent’s income and assets shouldn’t determine the price of a future working adult’s college education, but that’s exactly what the aid and so-called scholarship system has produced in just the last two decades. That and exorbitant tuition costs that are not justifiable.

This is the real scam."

Yes, this.

wha ...? I am all for reducing college costs, but your parents should absolutely have to contribute what they can.

Can you put the rationale for your thinking in words, other than to use the word "absolutely"?

I don't think anyone except you need this explained.

Again, try using words instead of insinuations. Here's an attempt: "Parents are asked to pay for their adult children's college expenses (*) because .... "

For extra credit, also complete the sentence: "If parents who are asked to pay do not pay, their children do not have a recourse because ... "

Try it, and then proofread what you were trying to say.

See how difficult this is?

(*) except if they allowed their underage children to marry, or their children chose to have grandchildren, or the relinquished custodianship of their children

Again, you're literally the only person who needs this explained. If you'd like to state your arguments and beliefs, go'head.

Again, well said. The PP has education but no wisdom. S/he keeps proving this point again.

[Anonymous]

It's cheating.

I hope the IRS looks into the tax returns of those who did this.... I am betting they claimed the kids as dependents.
Seems to me that if you surrender custody to someone else, you can no longer claim that person as a dependent.