<p>How depressing that a college student is being taught here that ethics don’t matter. So what if an FAO or book recommends something? In the words of my mother–“If someone told you to jump off the Brooklyn Bridge, would you do it?” There are legitimate ways to handle assets, and then there’s plain old fraud. OP was proposing that he hide money so he wouldn’t have to use it for his education. That’s fraud, and “everybody’s doing it” is an incredibly lame excuse. Perhaps someone can justify why a student SHOULDN’T use his some of own money to pay for his education. I’d love to hear that rationale.</p>
<p>A high percentage of people have to go through verification of assets. I think the Federal Government would not have much trouble figuring out if someone didn’t report savings bonds. Everything is tied to social security numbers. I do not recommend hiding anything.</p>
<p>However, every book says keep as much assets in parent’s name as is possible. It is like taxes - tax avoidance means using legal methods. Tax evasion involves illegal methods.</p>
<p>As far as “hiding away” savings bonds, that is insipid for several reasons. One, most are only paying about 2%. Two, if they are the parent’s name and were issued after the early 1990s, the interest is not taxable for college expenses. Three, it is always better to use up assets (other than emergency funds) than to take out debt.</p>