Fafsa & Ugma accounts

sblake7
Mon, 03 Mar 2008 20:22:03 +0000

Yeah, FAFSA uses the same definition of “investment” in both the parent and student section. So they’re intent wasn’t necessarily to say that UGMA’s are always considered parent’s investments, just that UGMA’s are included among the types of investments that are reportable.

UGMA’s belong to the student.

I agree with lurkie and Chevda-- sibling’s assets and investments (including their UGMA) aren’t included in FAFSA. Source? The source, I guess, is the FAFSA-- where they don’t ask for the sibling’s income, assets, or investments.