declare

Some students are declaring independence from parents for more financial aid



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robert frank here to explain tell her

another example of gaming the system

here the u.s. education department

investigating a legal loophole that has

allowed affluent families to receive

financial aid for their children's

college now ProPublica and the Wall

Street Journal both reporting on a

strategy where parents give up legal

guardianship of their kids to a friend

or relative the children can then

declare themselves financially

independent reporting only their own

income and therefore qualifying for

federal state and university financial

aid now critics say they're benefiting

at the expense of truly needy families

but the lawyers consultants involved in

guardianship say it's perfectly legal

and it's in the best interest of the

children now general found that most

families who sought financial aid for

their kids in suburban Illinois lived in

homes valued at a half million or more

with several over a million dollars the

Education Department considering new

language requiring students under

guardianship who still receive support

from their parents to be declared

dependents it it really just sounds

wrong to do this I know it's legal I get

it but that's just not the spirit of the

way it ought to work and there was an

example in there where there was a

wealthy woman they say we make more than

$250,000 a year we have a million dollar

house but we put several of our kids

through college at a cost of more than

six hundred thousand dollars so we

couldn't afford the last kid so we had

to do this so if college costs have

gotten so crazy well then you could make

over 250 a year have a million dollar

house downtown and still can't afford it

that's what's crazy this is all legal

though unlike the other college

admissions scandal so can there be

anything done about this really the

Education Department is going to try to

change the language that says look if we

find any evidence that you're getting

your cellphone bill paid your rent paid

anything paid by your parents you cannot

be declared a definitely independent

that's right exactly

so they may change that alrighty

fascinating story lengths parents will

go

you

you