Broker account affecting scholarships?

BelknapPoint
Fri, 05 Jun 2020 20:38:08 +0000

It depends what type of scholarships they are. Merit scholarships: no affect. Need-based and hybrid merit/need-based scholarships: possibly, but it’s impossible to say to what degree without having details about your overall financial situation.

Wait – are you saying that if having a broker account under your name affects your chances of getting scholarships, you would like to open an account under your name? Affect in what way - good or bad? And until you’re 18, you can’t open a broker account in your name. It would have to be opened as a trust account or as a UTMA/UGMA account.