A father of a former Harvard student is facing 20 years in prison for falsifying his income in order to receive more financial aid. I’ve never met a family who wanted to go as far as this guy did (he filed fraudulent federal tax returns). But in a second article about this incident, Mark Kantrowitz reminds families that parents aren’t the only ones who face consequences of being disingenuous on financial aid forms.
“Some universities will expel a student who commits financial fraud — even if it was the parent who falsified the documents. The student signed them. So parents really need to know: If you commit fraud on the FAFSA, besides stealing from the federal government, you’re putting yourself and your kids at risk.”
Bottom line for parents: You shouldn’t be shy about applying for the aid you need to send your kids to college. This is not the time to be proud. But be honest, too. Stretching the truth just isn’t worth the risk.