That is a very tough question. I can relate- my son just graduated after a full ride, and he would never have been able to go to the school he attended without the financial aid. He would have been looking at in-state tuition at our local college.

I would have to go with the honest path. There is no way that I would be able to condone lying or cheating to get ahead. As a mother of two 20-something kids, I have had experience with "doing the right thing." It is far from easy, but really there is no alternative. I once had a situation in which a gas station clerk gave me an extra $20 (he thought it was a $1). I got to the car and realized his mistake. Guess what? The kids were in the back seat. We discussed it, and they both told me I had to return the money, which I did. (The clerk nearly keeled over.)

How to handle this issue: My son and I would call or go to the school with the big money, and he would need to explain what happened. I would support him, but not do it for him. Then, it would be up to him and the school officials as to the outcome. Either way, I could continue to support him emotionally re: his unfortunate choice to cheat. The school would determine the consequences and my son would have to live with that.