As someone who works in academia and has researched STEM education, wanting to do this is despicable! You have a quarter million dollars saved, yet you want money intended for low-income students. Like, what the actual hell?! I hope you attempt this and get caught, ideally they’ll then fine you $250K and ensure you’re unable to ever receive any financial aid. Screw you and you’re comfortably committing fraud which will impact those who actually need the funding!
You’re getting mad at someone for trying to escape a fucked up system just because they’re not about to be as badly exploited by it as others.
You sound like shaming someone for trying to negotiate down their $200,000 hospital bill when you should be asking why this is a capitalist hellscape.
Nah. I get excited when I can put 2500 in savings. Fuck that guy.
You guys have a savings?
In this case, any money the person receives is money thay another person who needs it does not receive.
Send it to me!
Talk to a financial advisor.
Do you belong to a credit union? You may have access to one for free.
They’ll be able to tell you how much you can squirrel away for retirement (legally).
And the GOV won’t know?
I gotta say this does not sound like a swell idea
A solid financial advisor/attorney will be able to give you ideas on where to put that money what to do with it. And they will be able to tell you whether or not the government can or cannot see it.
It’s not about the government not knowing.
The government already knows if you have money.
But there are lots of programs available to help defer money. A good financial advisor will know how to take advantage of them.
i have a great program that will hide all of your money, send me a DM
I think if you put it into a long-term deferred-tax savings instrument, that you e.g. can’t easily cash out, it might not show as an asset for purposes of a grant. Like an IRA, or CD, or gov bond, or something.
Talk to a financial planner. Fidelity will be happy to have a conversation with you in hopes that you’ll set you account up with them. They may not be able to answer your question, but then, they might.
And fuck people who try to guilt you about trying for grants when you have a retirement account. $250k is a great start if you’re 18, and will turn into a decent retirement fund if you leave it alone; but it’s peanuts in the big picture and certainly doesn’t make you “rich.” And if you spend it on education, you won’t have it for retirement.
A Roth IRA would probably do it, but I’d go looking at the actual details of everything involved.
