If a parent gives up their custodial guardianship rights to their college-bound children and assign the role to friends or relatives, then their children can qualify for federal and other financial aid. The parents involved in this scam in Chicago (University of Illinois at Urbana-Champaign) are doctors and lawyers with deep pockets to pay their attorneys to bail them out of this hot mess. They claim that their over $250,000 income isn’t enough to support their $600,000 spending habits. Hmm.