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Author: RecoveringFool Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: Re: saving for college Date: 7/9/1998 2:05 PM
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For good info on financial aid, go to www.finaid.org Why do you think she will need financial aid with the seed money you've given her ? I think the who-ha about college costs is a little out of hand. That money would pay for an in-state education at a 4-yr institution in Colorado even if you had it in CDs. If you want to send her to Harvard, it's a different story. If you want the money to pay for college, leave it where it is. Since it's already in her name, you can't change much unless you want to pay for music lessons, camps or private school to get rid of it. The financial aid rules will probably change a couple of times before she's 18 so my advice is play it straight. Also, the aid pendulum is currently swinging toward merit and away from need so you might be better encouraging her learning and not wrrying about the custodial fund.IMHO, always.
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