Parents often worry about making a mistake that will ruin their student’s chances of paying for college. Here is a list of some of the more common mistakes families make that affect affordability and eligibility for student financial aid.
Saving for college in the child’s name instead of the parent’s name. Custodial bank accounts, such as a Uniform Transfer to Minors Act account or Uniform Gift to Minors Act account, are reported as a student asset on the Free Application for Federal Stude...
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