53. Every person who makes a statement he knows or should have known to be incomplete or to contain false or misleading information or who transmits a document which is incomplete or which contains such information so as to(1) render himself eligible for financial assistance for students;
(2) receive financial assistance which can no longer be granted or which is greater than the assistance which may be granted,is liable to a fine of not less than $250 and not more than $1,500.