Reply to Daily Beast: Ivy League freshman says rich classmates are frauds, faking first-gen and poverty

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A friend told me that they are multimillionaires, but somehow their DC is on “full scholarship” at a non-merit granting T10 institution. I was like, “they gave merit?”  And their answer was vaguely not saying anything. Not sure how they did it. [/quote]

Likely financial aid scamming by hiding assets, divorce and/or pretending the teen is independent.[/quote]

It's actually extremely hard to well nigh impossible to do this, unless you have also hidden information from the IRS. I know - I looked into this for our family :-)
Since I disclosed everything to the IRS, and don't want to be audited, I can't fudge anything on college and financial aid applications.
[/quote]

Over multiple years, sure. But for 1 year (which is all colleges care about), it's possible to have zero income and pay no taxes (Musk, Bloomberg, and Bezos have all had years like this). Depending on how other assets are held it's also possible to truthfully fill out the CSS and still look poor. [/quote]

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