<p>Well if you don't care about the 'ethical' part (which is a sad statement) you do need to consider the legal aspects. Lying on FAFSA is - not might be - is fraud and can lead to rescinded college offers at the very least and prosecution at the other end of the scale. From FAFSA:</p>
<p>
[quote]
WARNING: You must fill out this form accurately. The information that you supply can be verified by your college, your state, or by the U.S. Department of Education.</p>
<pre><code>You may be asked to provide U.S. income tax returns, the worksheets in this booklet and other information. If you can't or don't provide these records to your college, you may not get Federal student aid. If you get Federal student aid based on incorrect information, you will have to pay it back; you may also have to pay fines and fees. If you purposely give false or misleading information on your application, you may be fined $20,000, sent to prison, or both.
[/quote]
</code></pre>
<p>and from the finaid website:</p>
<p>
[quote]
A good rule of thumb to follow is: If a reasonable person would feel uncomfortable telling a financial aid administrator about using a strategy, don't use it. For example, a reasonable person would not have a problem with advice to pay off all credit card debt, but would definitely have problems with advice to provide false copies of income tax returns or to transfer assets temporarily to a relative.
[/quote]
</p>
<p>Plus, if your parents are paying one of the highest rates of taxes, I would guess your EFC will be pretty high so any aid will probably be in the form of repayable loans rather than grants.</p>