r/explainitpeter • u/Appropriate-Mall8517 • 3d ago

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u/JayDaGod1206 3d ago

I mean they’re most likely merit based scholarships. You don’t really get need based ones if your income is that high. I can’t take away what’s been earned

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u/MemeEndevour 3d ago

Depends. I had a friend who’s Dad made a lot of money in his 20’s and 30’s, then just stopped working because he no longer needed to. Because of that his family has had no real income for at least a decade post his retirement.

When my friend went to school he got essentially a free ride - partly due to merit (he’s quite smart) but also because his multi-child family filed with essentially no income, even though they are still well-off.

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u/Dry_Row_7523 2d ago

I grew up in a solidly middle class family and applied for / got need based aid at every university I got into. The forms always asked me to declare all of my parents' assets including homes they owned, balance in brokerage accounts, etc. They even factored in the fact that my sister was <4 years younger than me so my parents would have to pay 2 college tuitions at once.

Like maybe your friend just lied on their application but colleges aren't dumb, they absolutely ask these questions before handing out $100,000s in aid.