An investigation by ProPublic Illinois has found that that dozens of students are qualifying for federal, state and university needs-based aid, despite not being needy, through a sneaky maneuver. This podcast (5:46) suggests that this abuse is reminiscent of folks who transfer assets to heirs in order to qualify for Medicaid. In a way, last week’s Fed rate cut has the feel of making an expensive item, stocks, more affordable to the already rich. From these musings come two takeaways for advisors.
Learn more about your ad choices. Visit megaphone.fm/adchoices