Reply to FA shouldn't go to people with 1 million dollar houses

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Reply to "FA shouldn't go to people with 1 million dollar houses"

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[quote=Anonymous][quote=Anonymous]
So, when it comes to financial aid, I have no trouble believing that the family in this Georgetown rowhouse has structured things to avoid taxes and reduce their expenses as much as possible.  Maybe the house and money is held by the grandparents, leaving the parents with, in fact, little assets on paper.  There are countless possibilities.  
[/quote]

Living rent-free and mortgage-free in a house held in someone else's name would have to be disclosed in the SSS application and would be a factor in the FA determination IF the applicant was honest about it. The application system does depend on the honesty of applicants. Unfortunately the system is vulnerable to cheating, yet it does do good for the people who deserve FA.

Has anyone thought up a better way to determine FA need that is not subject to cheating but is nuanced enough to take individual fianancial circumstances into account so that those who need and deserve FA can have FA? I don't think so. No, arbitrary cut-offs such as some posters have suggested (e.g., no $1-million-house-dwellers!) would not be nuanced enough to do justice in many cases.[/quote]

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