Oh boy it actually gets so much worse than you mention. If you have W2 income the cost of college is uniquely high to _you_. Very wealthy people who claim a business loss on their tax returns (through the massive spiderweb of itemized deductions) college, even ivy leagues, are free or almost free.
Bullshit. FAFSA covers assets as well as income so wealthy families with zero taxable income aren't getting need-based financial aid. Unless they lie on the application, which is criminal fraud.
Sorta. You exclude your primary residence, retirement funds, and any college savings accounts. I def know people with millions in the first two, retired, with their kids getting full rides and food stamps.
Not bullshit at all, there are loopholes riddled throughout the FAFSA system that allows assets to be tucked away out of scope. Itβs not fraud, all completely legal and purpose-built to support the types of families who can afford a financial advisor on retainer.
