You forget that most wealthy people do not have a "direct" income and have the ability to redirect tax obligations. So, like in Europe, most wealthy students have a very strong case that they're really poor : just look at their tax statements, nothing on there. Never mind the BMW.
(In Europe anyone who is a kid of a company director or some such who is paid mostly in options or company shares to a "management company" effectively earns nothing. Sometimes their income is a loan with the management company as collateral. This enables them to get a full scholarship financial aid for their kids university education)
so that would imply that college is then made affordable to both low income students and wealthy students alike since they can hide their assets. what a bonanza!
(In Europe anyone who is a kid of a company director or some such who is paid mostly in options or company shares to a "management company" effectively earns nothing. Sometimes their income is a loan with the management company as collateral. This enables them to get a full scholarship financial aid for their kids university education)