Just because you have wealthy parents doesn’t mean that you have access to that money. To me it would make more sense to only take into account the amount of money they are putting towards your education.
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Funds aren’t infinite. The thinking is that if you *could* get it from somewhere else, you should, because the funds are best used going to people who don’t have any other way.
Because otherwise you’re essentially just subsiding wealthy kids and their parents. Rich people aren’t stupid. They’re not just going to say “Oh yeah, no need for a $20,000 government grant. We’re paying out of pocket.” But the only way to really avoid it, is to *assume* parents are going to be assisting with college costs and just deal with those that fall through the cracks.
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because in most cases people’s education is going to be funded by their parents so they assess the parent’s financial ability to pay. there are few cases where there is no contribution from parents (who are financially able to) so its such an outlier that it doesn’t even need to be considered.
The sad thing is this doesn’t only impact wealthy people this negatively impacts everyone for the most part. My parents are blue collar make enough to live and be happy that’s it, no way can they afford anything for my schooling yet my country decided not to give me enough student loan because of their income.
Answer-
Rich people can afford to pay lawmakers to get laws written a certain way, and up until very very recently, it was considered shameful to have a child who was out as LGBT, and rich people’s defense against that shame was something called “cutting off” their children from funds. You cannot “cut off” your child’s pell grant.
To make sure they aren’t giving financial aid to those that “do not need it” by the only metric that is legally verifiable.
You can send an amendment with your financial aid application that outlines how the data you’ve sent in does not accurately represent your financial status because you don’t have access to your parents money
My siblings who didn’t get along with my parents weren’t able to apply for financial aid. Unless the parents supply their income and tax information for the FAFSA application, the kids can’t get a Pell grant. It didn’t matter that they were financially independent and filed their own taxes. This law really shafts poor students who have no relationship with their parents. This is in the U.S.
So the government is obligated to give out less aid. Sucks when your parents are divorced and remarried. All 4 incomes get looked at.
Why the states hardcore go after fathers for child support when mothers file for financial aid. Or the reverse.
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