undefined | Better HN

0 pointsjedberg6y ago0 comments

> CEO dad drops salary to $20k for a year and instead gets stock vesting equivalent "poor family"

Colleges are pretty wise to this trick. You aren't the first to think of it.

Relatedly is legally emancipating a child so they have "no parental support" and get a bunch of grants. That doesn't work either.

I suspect the colleges would get good as sussing out all those other tricks too.

0 comments

ben_jones6y ago

Just like they were able to suss out all the student athletes who didn't actually do anything?

javagram6y ago

Considering the FBI busted the ringleader of the scam and a bunch of people are going to jail, this seems like an example of the system working.

droithomme6y ago

As you say, the FBI busted the scam which went on for years (decades?) and the colleges all say they had no idea about it, right? So his claim that the colleges weren't able to suss this out is absolutely correct in 100% of all known cases, right?

oh_sigh6y ago

The FBI only busted them because a person they were investigating for a completely separate issue told them about this in hopes to get a more lenient sentence. So yes, it is the system working, but we got very lucky the FBI stumbled upon this information.

graeme6y ago

That was bribery. The scheme was to bribe people who normally would do the sussing out.

jedbergOP6y ago

There will of course be false negatives.

DtnB6y ago

its not so much 'sussing out tricks' as a blanket ban on anything that can be abused. My parents made roughly 100k when I was going to school but they were terrible with money and have a lot of children. The 'expected contribution' was actually quite high but I never received anything from my parents at all. Thus, I have much in the way of student loans.

Not to take away from your point but the colleges having to work against these sort of tricks has a lot of unintended consequences.

j / k navigate · click thread line to collapse