Broker account affecting scholarships?

thumper1
Fri, 05 Jun 2020 22:31:55 +0000

@spectre729

Could you please explain your post?

It is very possible that having a brokerage account in YOUR name only could affect your need based aid awards…it could be less. But really…more details needed.

1. Are you only applying to colleges that meet full need for all accepted students?

2. What is your parent annual income? It’s very possible you won’t qualify for much need based aid anyway..depending on their income.

I will add…that if they have money kicking around to open a brokerage account for you, you are likely not low income…right?

1. How much will be in this brokerage account?

2. Are you over age 18...as noted, this can’t be in your name only if you are under 18.

3. Why do your parents want to do this?