Originally Posted by
stupidzbu
My wife is a resident and her tuition is sky high. I was racking my brain to try to come up with a good way to deposit MOs that wasn't suspicious and thought of this plan. it may or may not work, but here goes:
Apply for financial aid, start first semester, one month before second semester kicks in and before the 2nd installment of financial aid, start depositing MOs with the college to pay down the tuition.
This will not affect financial aid, so when those funds post, you ACH the excess to your bank account and then pay off the CC
We've done something like this, but with scholarships and ended up with a surplus.
Risks:
1) Affected financial aid for the following year
2) being flagged by the school
3) limits on MO deposited
PROs:
1) Bypass depositing MOs at bank
2) Bypass closures of accounts and SARs
It seems like a fine idea, and how much does it affect your wife's financial aid the next year?
If she's going to be a doctor, consider this line from an article about Medicare:
Retina specialists talk of colleagues who earn huge amounts of frequent-flier miles by buying Lucentis using credit cards.
http://www.nytimes.com/2014/04/10/bu...look.html?_r=0