CSS Profile: where would money in son's savings acct where parents are custodians go?

Paying for College
1

<p>would it be students assets , maybe under the following question?

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<p>One reason I ask is that CSS does not explicitly ask whether the parents are custodians or trustees is the exact name in this case) for the student applying for aid. But CSS I think DOES ask for the amounts of other siblings where the parents are named custodians.</p>

2

<p>Who pays the taxes on the interest? Our kids have trustee accounts. WE are the primary holders and we get the 1098 interest forms for tax purposes. WE therefore put these accounts under our assets. In our kids’ cases, they can’t even withdraw money from these accounts.</p>

3

<p>It’s a kidsaver kind of acct. kid cannot w/drawal from it. we are custodians. But I do not recall getting a 1098 on it. kid certainly did not get a 1098 on it, either. cd be 'cause there is only $3k in it and interest is LT 1 pct?</p>

<p>So would it be the case that monies that would go under that question on student savings - SA-100A, quoted above- , would have to be monies that the student can withdrawal freely and himself be taxed on? The latter criterion might be the sufficient one.</p>

<p>He has a mutual fund that has a custodian and where he cannot w/drawl teh money, BUT he does get 1098-Div’s from earnings from this fund.</p>