Reply #6: A friend of my son told him that once he and his sister were through college,

[SoCalDem]

his parents declared bankruptcy...after having carefully used credit cards to get them though college. The upside, is that they ended up with no debt, but the downside is that their 50-something parents have a bankruptcy on their record. The house they live in is owned by Grandma ( another strategic decision they made).

Technically, they "gamed" the system, but is it much different from corporations who routinely "game" the system for megabucks & plumped up bonuses?

When Grandma passes on, the parent's home will pass directly to the grandkids (who would have gotten it anyway), with Mom & Dad living there as long as they live.