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I doubt if schools have access to previous tax returns or bank statements. However you could get audited by the financial office theoretically. Federal/provincial student loans have access to much more information by comparison. Also please don't deflate the value of your assets to boost your funding at the expense of other students who may actually need it. 

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I wouldn’t risk it for a little extra. When you submit your financial aid applications there are warnings about the ramifications for making misrepresentations. Plus they would be able to track discrepancies you accidentally report. Not worth it

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On 4/10/2019 at 6:35 AM, qwertyujyhrtge said:

How closely do schools check your actual assets compared to what you declare on financial aid forms?

What a fantastic question to ask a bunch of law students. I got in to U of T everyone!  Now how do I defraud the student aid office?

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I’ll give the OP the benefit of the doubt and assume the question is whether one needs the exact amount to the nickel versus a ballpark sum. 

Take the time to be accurate. Diligence - along with honesty and integrity - are qualities you want to foster getting in to this profession. 

If you are actually considering abandoning the latter two so early on, give Felicity Hoffman a call and ask how that approach is working for her. And if the morality of it doesn’t sway you, question whether you really want the possibility of being found out hanging above your head afterwards. If ethics won’t bind you, maybe fear will. 

Shame to start out like that though. 

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On 4/12/2019 at 3:59 PM, Hegdis said:

I’ll give the OP the benefit of the doubt and assume the question is whether one needs the exact amount to the nickel versus a ballpark sum. 

Take the time to be accurate. Diligence - along with honesty and integrity - are qualities you want to foster getting in to this profession. 

If you are actually considering abandoning the latter two so early on, give Felicity Hoffman a call and ask how that approach is working for her. And if the morality of it doesn’t sway you, question whether you really want the possibility of being found out hanging above your head afterwards. If ethics won’t bind you, maybe fear will. 

Shame to start out like that though. 

I agree, but to apply for student financial support disbursements it does take some estimation. For example I recently filled out an application for financial support and I was asked to provide how much food and rent will be for the academic year. I have not found a place to rent yet and I have no idea how to accurately predict food spending so I just averaged what I thought I would spend, taking a conservative approach for my estimates.

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