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You tell them the truth. And they will probably expect you to use that savings for your tuition. And the student who didn’t get to save any money during the pandemic (for whatever reason) will have to take out more loans. And then you get a job after graduation and save money for a down payment.

Don’t commit fraud and potentially tee yourself up for huge fines? Just give the actual information.

Legally it’s a felony. You can go to prison if caught. I don’t think that happens, and I don’t know the odds of getting caught, but any chances seem too high for me. Also it’s scummy behavior.

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Yeah as someone who got absolutely fucked and had to move hours away to keep food in my stomach and still go to class this seems really priveleged. Like, 20k is enough for almost two years of school. And buying a house right after graduation isn't usually a good idea anywyas.

>I was wondering what's the best option to save as much of my savings?

You can keep all of your savings by dropping out and living under a bridge but that isn't really what you're after here.

You can comply with the request or not. Manipulating or excluding financial data for your benefit is fraud. Fraud isn't a good thing to do.

If you're asking people for advice on how to manipulate and move your money in order to avoid reporting it to the feds for your aid, then you're asking people for advice on committing fraud. This sub really can't help with that. The advice you'll get here is to truthfully report the balances of your accounts.