Students at Harvard Business School drive hot cars like Porsches, etc. One student in the know claims: “Once you get accepted into HBS, you want to clear out your bank account so that you can get more financial aid. When you list your assets in the financial-aid application, you don’t have to mention your car … You buy a car for $20,000, maybe you get an extra $20,000 in financial aid, so basically HBS buys you a BMW. If you hadn’t bought the car, you’d have to pay $20,000 out of your savings.”

These students’ mamas ain’t raised no fools. How many such con artists is the financial-aid system breeding?