Why you save on college costs by getting hitched
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Forget love and even green cards and in-state tuition. Paula Pant of AffordAnything.org explains on MSN Money why some students get married to save on their college education:
An 18-year-old only child whose parents earn a combined $75,000 a year is classified as middle class and receives limited financial aid. ...
If that same 18-year-old made a pact with one of her classmates to get "married-on-paper," the couple's income -- not their parents' income -- would be the metric that financial aid offices consider. As college freshmen, their combined household income, stemming from part-time work and summer jobs, would probably be less than $10,000 to $15,000 per year. This classifies them as at or near poverty level and renders them eligible for premium financial aid packages.
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How long could they pull off this ruse?
According to one of the sources in the article, WhyPayTuition.com:
The Free Application for Federal Student Aid (FAFSA) requires an applicant to include parent information unless one or more of the following criteria is met.
1. Age 24 by January 1 of the financial aid award year
2. Veteran of the U.S. Armed Forces
3. Enrolled in Masters/Doctorate program
4. Married prior to signing and filing the FAFSA
5. Orphan or ward of the court
6. Support legal dependents other than a spouse