Makes economic sense to me. If the government puts in incentives without monitoring that are that perverse, somebody's gonna figure them out and take advantage of them.
No different than a tax loophole, except one offers you more money while the other ruins your kid(s)
Brick and Mortar Higher Edumacation has a broken bidness model.
Scammers gonna be scamed...
And all those parents in the college admission scandals go to prison........
I have a former colleague whose parents engaged in something like this so that she and her brother could attend an elite university.
Saving makes tuition worse. Having a million dollar house and savings makes for a max tuition bill.
Universities charge according to what you own. I don’t blame the parents for doing this.
This has been going on for decades.
American “higher education” has become another government-funded progressive scam
Like the 2007 housing bubble, ever-higher prices are fed by government spending and massive debt, mostly guaranteed by Fed.gov. The results will be the same - ever higher costs to consumers, middle-class getting priced out, a bloated, politicized economic interest feeding off it, and when it pops - massive fraud revealed.
I work for a very prestigious university, and children of employees attend free.
Told my siblings if any of their kids gets accepted, I’d adopt them to save the tuition. That would be somewhere around $250K for four years.
Fake parents.
Who knew ?
This has been happening for a very long time.
These wealthy parents might be paying a fortune in taxes.
If they found a loophole in financial aid, I can’t blame them.
But it’s a shame for the other families who have to pay full price.
Bkmk
In CA, they buy them a home near the college on the fairly easy bet the home will go up in value 30% by the time they get out of college.
Why not?
While your at it,have delare to be a Nigerian, one -legged, intersectional
Human and grab mo munee too!